On June 2, Chinese steelmaker Shougang released its ex-factory flats prices for June. The details are as follows:
1. Hot rolled prices have increased RMB 260/mt ($38/mt). As a result, the new price of 5.5 mm x 1,500 mm Q235 is RMB 3,510/mt ($515/mt).
2. Cold rolled prices have seen a jump of RMB 300/mt ($44/mt). Thus, the new price of 1.0 mm SPCC is RMB 4,300/mt ($630/mt).
3. Prices of galvanized coils have gone up by RMB 300/mt ($44/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 4,500/mt ($660/mt).
All the above prices include 17 percent VAT and are effective from June 2, 2009.
$1 = RMB 6.82