BEIJING (Reuters) - China’s biggest listed steelmaker, Baoshan Iron & Steel (600019.SS) (Baosteel), has cut its main steel product prices for May delivery, the company said in a statement late on Monday.
Prices for hot rolled coil for May will be cut by between 120 yuan and 300 yuan ($17.39 and $43.46) per tonne, the company said.
Prices for CQ grade and non-auto grade cold rolled coil will be cut by 300 yuan per tonne, while prices for other cold rolled coil will be cut by 120 yuan per tonne, it said.
The firm’s pricing moves usually set the tone for the industry.
Reporting by Beijing Monitoring Desk; Editing by Richard Pullin