News Room - Steel Industry

Posted on 23 May 2008

China will not intervene in steel pricing

China will not intervene in steel pricing, the official Shanghai Securities News reported, citing Xiong Bilin, vice director of the industry department at the National Development and Reform Commission (NDRC), China's economic planning agency. 

Noting that steel pricing is 'fully liberalized,' Xiong said the industry is expected to continue operating under market forces.

Xiong noted that downstream industries, such as home appliances, will reach a point where they cannot bear higher steel prices. When that point comes, steel prices will fall.