China’s Baosteel raised its wire rod prices by CNY 200/ton for April, but the price of wire rod and bar for May was kept flat under the situation that the market hasn’t stabilized yet.

According to market participants in Taiwan, Baosteel decided to maintain its May prices as the originally expected recovery in the steel market in the second quarter hasn’t really started. During the period of continued low demand, Baosteel kept its price unchanged in response to the current market situation.