Thursday, March 06, 2008

China Steel to raise Q2 prices by average 19 pct

China Steel, Taiwan's top steel maker, said on Thursday it will raise its domestic steel prices by 19 percent in the second quarter from a quarter ago, as it passes on higher iron ore prices and freight costs to customers.

The rise, topping market expectations for a 15-16 percent increase, comes after larger rival China's Baoshan Iron and Steel recently raised its second-quarter price by 17-20 percent

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