The No. 1 blast furnace of the Baosteel Zhanjiang steel project is expected to start operation on September 25, NetEase quoted a Baosteel source as saying on Wednesday.
On Monday, the Shanghai Baoshan Iron and Steel Co. Ltd (Baosteel, 600019.SH) announced a cut in prices of main steel products for October bookings by 100-200 yuan/metric ton (tonne), on the basis of prices for September bookings.
It is the first time that steels produced by the Baosteel Zhanjiang steel project have been included in the steel maker's price list, implying that the project will accept orders for October bookings.
According to the October price list released by the Baosteel, benchmark price of hot-rolled steels produced in Zhanjiang is set at 2,200 yuan/tonne. A discount of 160 yuan/tonne will be offered to those placing orders in advance.
The project was approved by the National Development and Reform Commission in May 2012 and requires a total investment of 69.68 billion yuan.
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