Baosteel’s Aug. hike sparks hot coil rise

Jul 14, 2009 | 11:35 AM |

Chinese domestic hot-rolled coil prices surged as much as 130 yuan ($19) per tonne after Baosteel Group Corp. Ltd., China's biggest steelmaker, raised its August list prices, traders said.

Hot-rolled coil transaction prices climbed to between 3,780 and 3,800 yuan ($553 to $556) per tonne in the Shanghai market Tuesday, up from 3,660 to 3,670 yuan per tonne one week earlier.....

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