China's top steel producer Baoshan Iron & Steel Co (Baosteel) has taken the lead to raise manufacturer prices of steel wires for April as the steel product market has shown signs of recovery.

Most steel wire product prices went up 150 to 300 yuan metric ton (tonne). However, Baosteel hasn't yet released its steel plate prices for next month.

Industry insiders say that Baosteel's price rise is mainly attributed to cost pressure as well as booming demand from downstream industries.

Currently, Baosteel's automobile sheet and appliance board supply is in short supply on the market. The company has started to restrict production of some silicon steel products in an effort to expand auto sheet production.

Steel prices have been rising since the beginning of March, showing a strong trend of market warming.

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