Jinan Steel ups ex-factory prices

SteelOrbis Shanghai On February 27, Shandong Province-based Jinan Iron and Steel Group Corporation (Jinan Steel) announced upward adjustments to its ex-factory prices for some products. The details are as follows: The price of common carbon medium plate, low alloy plate and non-common carbon plate increased RMB 200/mt ($26/mt), while that of shipbuilding plate increased RMB 250/mt ($32/mt). After adjustment, the new price of 16 mm-20 mm thick Q235 medium plate stands at RMB 4,120/mt ($532/mt), that of 16 mm-20 mm thick Q345 low alloy plate is RMB 4,270/mt ($552/mt), while that of 16 mm-20 mm thick CCSB shipbuilding plate is now at RMB 4,630/mt ($598/mt). Meanwhile, the price of deformed bar increased RMB 120/mt ($16). After this adjustment, the new price of 12 mm diameter HRB335 deformed bar is RMB 3,300/mt ($426/mt), while that of 16 mm-25 mm diameter HRB335 deformed bar is RMB 3,200/mt ($413/mt). The price of CR increased RMB 200/mt ($26/mt), while that of HR increased RMB 250/mt ($32/mt). After adjustment, the new price of 1.0 mm thick SPCC CRC is RMB 5,010/mt ($647/mt). The new price of 2.75 mm thick Q235 HR is RMB 4,420/mt ($571/mt), while that of 5.5 mm thick Q235 HR is RMB 4,100/mt ($530/mt). The price of medium sections increased RMB 60/mt ($8/mt). After adjustment, the new price of 16# Q235 channel steel is RMB 3,240/mt ($419/mt). All the above prices include 17 percent VAT and are effective as of February 27, 2007.