Steel product prices have touched record highs in the past three months due to concerted efforts by steelmakers and spot market traders to benefit from a construction upswing. Spot traders initiated the hikes to gain from increased demand by the construction and infrastructure sectors for a wide range of steel products. This has sparked a chain reaction within the industry, prompting steelmakers to step up prices to grab part of the profits. "The rise in steel prices was initiated by rising...
Full Story: China Daily
