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Two of China's biggest steel makers have announced price hikes for next month's deliveries, in anticipation of stronger demand.
Wuhan Iron and Steel Group, the country's third largest, will increase the prices of most of its products by 200 to 800 yuan per ton. And Anshan Iron and Steel Group, the fourth largest, will raise prices by 350 to one thousand yuan.
Earlier Monday, Baosteel announced it will keep prices of its hot and cold rolled steel unchanged in September, but analysts suggested it would reduce discounts to major customers. Steel prices on the domestic spot market began a steep decline at the end of April. They've rebounded 10 percent since, ending last week at nearly 4 thousand yuan per ton.