On March 16, Baotou Steel announced its flats prices for April. The details are as follows:
1. Medium plate prices are down RMB 440/mt ($64/mt) from March levels. Thus, the price of 20 mm Q235 is RMB 3,680/mt ($539/mt).
2. Hot rolled prices have decreased RMB 500/mt ($73/mt). As a result, the new price of 5.5 mm Q235 is RMB 3,400/mt ($498/mt).
3. Cold rolled prices have seen a drop of RMB 350/mt ($51/mt). Thus, the new price of 1.0 mm SPCC is RMB 4,250/mt ($622/mt).
4. Full Hard prices are down RMB 350/mt ($51/mt), with the price of 1.0 mm SPCC decreasing to RMB 3,950/mt ($578/mt).
5. Prices of galvanized coils have dropped RMB 350/mt ($51/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 4,450/mt ($652/mt).
All the above prices include 17 percent VAT and are effective from March 16, 2009.
$1 = RMB 6.83