On April 29, Chinese steelmaker Shougang released its ex-factory flats prices for May. The details are as follows:
1. Hot rolled prices have decreased RMB 150/mt ($22/mt). As a result, the new price of 5.5 mm x 1,500 mm Q235 is RMB 3,250/mt ($477/mt).
2. Cold rolled prices have seen a drop of RMB 150/mt ($22/mt). Thus, the new price of 1.0 mm SPCC is RMB 4,000/mt ($587/mt).
3. The previous prices remain effective for full hard coils, with the price of 1.0 mm SPCC still at RMB 3,850/mt ($565/mt).
4. Prices of galvanized coils have dropped RMB 150/mt ($22/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 4,200/mt ($616/mt).
All the above prices include 17 percent VAT and are effective from April 29, 2009.
$1 = RMB 6.82