On July 21, Chinese steelmaker Shougang released its ex-factory flats prices for August. 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 4,210/mt ($616/mt).
2. Cold rolled prices have seen a jump of RMB 420/mt ($61/mt). Thus, the new price of 1.0 mm SPCC is RMB 5,170/mt ($757/mt).
3. Prices of galvanized coils have gone up by RMB 580/mt ($85/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 5,530/mt ($810/mt).
All the above prices include 17 percent VAT and are effective from July 21, 2009.
$1= RMB 6.83