CHINA STEEL WRAP: Steelmakers' price cuts hit sentiment

May 03, 2012 | 04:16 AM |

China’s spot steel prices continued to drop as steelmakers’ price cuts hit market sentiment. Prices were either lower or flat in major steel markets. Rebar prices in Shanghai dropped 20 yuan from Wednesday to 4,040-4,210 yuan ($640-667) per tonne. Prices for hot rolled coil....

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