Wuhan Steel reduces prices for steel

Chinese metallurgical company Wuhan Iron & Steel reduced prices Steel for the supply in April. It is reported Yieh.Corp. Depending on the material prices have dropped by 150-450 yuan / ton (22,9-68,6 U.S. $ / ton). It was reported earlier that the "Wuhan Iron and Steel Corp intends to continue buying the raw assets outside the country. "Currently, we import more than 85% of iron ore. Our goal - in 3-5 years, fully provide for themselves their own iron ore, not to buy it from the" big three "companies monopoly on the iron ore market, "- said in a corporation. To date, Wuhan Steel 8 controls iron ore assets outside China. Company" Wuhan Iron and Steel Corp "is the third largest steel producer in China. It is engaged in production of hot-rolled and cold-rolled, slabs and galvanized steel. Ministry of Industry