Wuhan Iron & Steel Group has reduced prices of hot-rolled coil, cold-rolled steel and tinplates for shipments in July, the Tex Report said.

Prices were cut by about US$52 a metric ton for hot-rolled steel, US$45 a ton for cold-rolled sheet and US$39 a ton for tinplate, the report said. Prices of products such as heavy plates, electrical sheets and wire rods were raised by US$13 a ton and US$39 a ton, the report said. Other steel producers in China could follow Wuhan in price cuts to help cool the Chinese market that is facing a glut, the Tex Report said.