Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for main steel products, effective for September 2011. The details are as follows (comparisons being with prices for August):
1. Hot rolled coil (HRC): prices of Q235 and SPHC HRC have remained stable. Thus, the price of 5.5 mm x 1,500 mm Q235 HRC is still RMB 4,850/mt ($761/mt), while the price of 5.5 mm x 1,250 mm SPHC HRC stands at RMB 4,830/mt ($758/mt).
2. Medium plate prices have been raised by RMB 50/mt ($7/mt). As a result, the price of 14-20 mm Q235 medium plate remains at RMB 4,980/mt ($781/mt).
All the above prices are ex-mill, include 17 percent VAT and are effective from September 1.
US$1 = RMB 6.37