On May 20, Liaoning Province-based Chinese steel producer Bensteel announced upward adjustments to most of its ex-works prices for flat steel products to be effective for June 2009. The details are as follows:
1. HR
HR prices have increased by RMB 350/mt ($51/mt) from the May price level. Thus the new price of 2.75 mm Q235 is at RMB 3,160/mt ($463/mt) while the new price of 5.75 mm Q235 is at RMB 3,090/mt ($453/mt).
2. CR
CR prices have risen by RMB 200/mt ($29/mt) from the price level for May. Accordingly, the new price of 1.0 mm DC01 is at RMB 3,650/mt ($535/mt).
3. HDG
HDG prices have increased by RMB 150/mt ($21/mt) from May levels. As a result, the price of 1.0 mm SGCC stands at RMB 3,900/mt ($571/mt).
4. PPGI
PPGI prices are unchanged from May price levels. Thus the price of 0.47 mm TDC51D still stands at RMB 4,850/mt ($710/mt).
The above prices do not include 17 percent VAT.
US$1 = RMB 6.82