Hebei Steel, Shougang Cut Their Prices

Hebei Steel is among one of the 20-plus domestic steel mills that have cut their prices over the past two days. On September 26, it announced a plan to lower its wire rod price by 50 yuan per ton and rebar price by 100 yuan.

Similarly, Shougang also decided to cut the prices of rebar and round bar by 140 yuan per ton on the following day.

A poll shows more than 95 percent of mills in the Tangshan area have resumed production. The intensity of state supervision seems to be loose somewhat during a period between the Mid-Autumn Festival and National Day holidays.