On March 3, Shandong Province-based Chinese steelmaker Jinan Iron and Steel released its new price policy for March as follows:
1. Prices of shipbuilding plates have been raised by RMB 200/mt ($29/mt), while prices of other plates have risen by RMB 150/mt ($22/mt). Currently, the price of 16-20 mm Q235 medium plate stands at RMB 4,280/mt ($628/mt), with 16-20 mm Q245R boiler plate priced at RMB 4,580/mt ($672/mt), 16-20 mm Q345R vessel plate costs RMB 4,630/mt ($679/mt) and 16-20 mm CCSB shipbuilding plate is priced at RMB 4,520/mt ($663/mt).
2. Ex-mill prices of hot rolled coils have climbed RMB 80/mt ($12/mt), with 5.5 mm Q235 hot rolled coil now priced at RMB 4,010/mt ($588/mt). Meanwhile, ex-mill prices of cold rolled coils have gone up by RMB 50/mt ($7/mt), with 1.0 mm SPCC cold rolled coil now priced at RMB 5,300/mt ($777/mt).
3. Channel prices have registered an increase of RMB 200/mt ($29/mt). Accordingly, the price of Q235 A6 3#-20# channel has risen to RMB 3,950/mt ($579/mt).
All the above prices are ex-mill, include 17 percent VAT and are effective as of March 3, 2010.