According to Guangzhou South China Metal Exchange Center, prices of major steel products of Wuhan Iron and Steel Corporation such as plate steel, cables, hot rolled steel and silicon steel will increase in August with the price range as high as 2000 yuan/ton.

     At the same time, Kunming Iron & Steel, Shagang Group and Pzhsteel Group have already up-adjusted the prices of some of their products.

     A survey shows that major domestic steel enterprises raised their steel price at the beginning of this year because of the rise of prices for raw material price and intense market supply.

     According to Umetal.net, there is little possibility for the drop  of prices in steel products in the rest of the year, because the market is comparatively balanced between demand and supply.