China Gerui Advanced Materials (CHOP -6.1%) lowers its FY2012 guidance, saying the move reflects...

|About: China Gerui Advanced Materi... (CHOP)|By:, SA News Editor

China Gerui Advanced Materials (CHOP -6.1%) lowers its FY2012 guidance, saying the move reflects the industry-wide reduction in steel prices which has led to a decrease in its average selling price "primarily due to slowing macroeconomic conditions in China.”