On June 23, Chinese steelmaker Shougang released its ex-factory flats prices for July. The details are as follows:
1. Hot rolled prices have increased RMB 350/mt ($51/mt). As a result, the new price of 5.5 mm x 1,500 mm Q235 is RMB 3,860/mt ($565/mt).
2. Cold rolled prices have seen a jump of RMB 450/mt ($66/mt). Thus, the new price of 1.0 mm SPCC is RMB 4,750/mt ($695/mt).
3. Prices of galvanized coils have gone up by RMB 450/mt ($66/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 4,950/mt ($725/mt).
All the above prices include 17 percent VAT and are effective from June 23, 2009.
$1 = RMB 6.83