Jinan Steel hikes ex-factory prices

SteelOrbis Shanghai On January 8, Shandong Province-based Jinan Iron and Steel Group Corporation (Jinan Steel) announced its latest ex-factory prices for some products. The details are as follows: 1. Rebar prices increased RMB 40-50/mt ($5-6/mt). As a result, the price of 16-25 mm diameter HRB335 is RMB 2,990/mt ($383/mt), while that of 16-25 mm diameter HRB400 is RMB 3,110/mt ($399/mt). 2. Section steel prices remained unchanged, and so the price of 6.3-14 mm Q235 channel steel is still RMB 3,100/mt ($397/mt). 3. HR sheet prices saw some changes. Prices of <3.5 mm HR remained constant, with 2.00mm Q235 at RMB 4,420/mt ($566). Meanwhile, the price of >3.5 mm HR increased RMB 60/mt ($8/mt), with 5.75mm Q235 now at RMB 3,750/mt ($481/mt). 4. CR sheet prices increased RMB 60/mt ($8/mt). Following the adjustment, the price of 0.5 mm SPCC is now RMB 5,060/mt ($648/mt), while that of ≥1.0 mm SPCC is RMB 4,710/mt ($603/mt). 5. Medium plate prices increased RMB 150/mt ($19/mt). As a result, the price of 8.0 mm Q235B is now RMB 4,160/mt ($533/mt); that of 16-20mm Q235B is RMB 3,770/mt ($483/mt); that of 8.0 mm Q345B is RMB 4,310/mt ($552/mt); that of 16-20mm Q345B is RMB 3,920/mt ($502/mt); the price of 8.0 mm boiler plate is RMB 4,470/mt ($572/mt); that of 16-20 mm boiler plate is RMB 4,080/mt ($522/mt); that of 8.0 mm shipbuilding plate is RMB 4,570/mt ($585/mt), and, finally, the price of 16-20 mm Q235B shipbuilding plate has risen to RMB 4,180/mt ($535/mt). All the above prices include 17 percent VAT and are effective as of January 8.