July 13 (Reuters) – China Steel (2002.TW), Taiwan’s top steel maker, will cut domestic prices by an average of about 4 percent for September over July-August because of reduced demand for home construction materials in China, a company executive said on Tuesday.
Bigger rival Baosteel Group said in June that China’s steel industry will face its toughest time of the year during the third quarter, as iron ore contract prices will peak in the quarter while steel consumption by the auto and housing sectors will be sluggish. [ID:nTOE65703O]
(Reporting by Lin Miao-jung; Editing by Ken Wills)