Angang increases prices for June

SteelOrbis Shanghai Liaoning province based Anshan Iron and Steel Group (Angang) announced its ex-factory price list for this month on June 8, 2006. Anshan Steel increased its hot rolled product prices by RMB 340/mt ($42) and cold rolled product prices by RMB 220/mt ($27). Now, the price of 5.5 mm Q235 hot rolled coil increased to RMB 3,700/mt ($462), and that of 1.0 mm cold rolled coil to RMB 4,630/mt ($544). The price of galvanized coils increased RMB 500/mt ($62). After the adjustment, the price of 0.5 mm ST01Z galvanized coils reached RMB 5,390/mt ($673), and that of 1.0 mm ST01Z galvanized coils reached RMB 4,760/mt ($594). The increase range for color coated coils is RMB 600/mt ($75). After the adjustment, the ex-factory price of 0.45 mm TST01 color coated coils became RMB 6,100/mt ($762). 17 percent VAT is excluded from all prices. The prices increase is not very high compared with the prices in major markets. Therefore it has not boosted the market prices. For example in Shanghai, the price of hot rolled coil decreased RMB 50/mt ($6) today because of dull commercial activities.