SteelOrbis Shanghai
On August 19, Jiangsu Province-based steelmaker Yonggang announced its latest ex-factory prices for certain products. The details are as follows:
1. Wire rod prices are down by RMB 200/mt ($29/mt). Thus, the price of 6.5 mm Q235 is at RMB 5,420/mt ($790/mt).
2. Rebar prices have declined by RMB 100/mt ($15/mt). As a result, the price of 14-25 mm diameter HRB 335 is at RMB 5,270/mt ($768/mt), while 14-25 mm diameter HRB 400 costs RMB 5,420/mt ($790/mt).
3. Prices of rebar in coil have been reduced by RMB 300/mt ($44/mt). Following the adjustment, the price of 8 mm diameter HRB 400 is at RMB 5,550/mt ($809/mt).
4. Round steel prices are down by RMB 160/mt ($23/mt), with the latest price of 12 mm diameter Q235 at RMB 5,410/mt ($787/mt).
All the above prices include 17 percent VAT and are effective from August 19, 2008.
$1 = RMB 6.86