Wuhan Steel raises April steel prices

China's Wuhan Iron and Steel Co has raised April prices for hot- and cold-rolled steel by 300 yuan a ton, and for galvanised steel by 200 yuan a ton, the China Securities Journal said on Tuesday.

Wuhan Steel was the first to announce April prices among China's steel sector, which produced almost half the world's steel last year, but the paper gave no further details.

Baosteel, the country's top steel firm, has yet to announce prices of its mainstream products for April, after it hiked March prices of hot- and cold-rolled steel coil to their highest since November 2008.

But Baosteel has raised prices of steel wire rod by 150 to 300 yuan per ton for April, the paper said.

China's steel mills and global miners are locked in negotiations for 2010's iron ore contract, and the country's steel sector faces a huge increase in iron ore costs this year.