On July 26, Chinese steelmaker Hebei Iron and Steel Group announced adjusted prices for its construction steel products for the month of August, as compared to its previous prices published on June 23. The details are as follows:
1. The wire rod price is up by RMB 100/mt ($14/mt), with the price of Q235 6.5 mm high speed wire rod at RMB 4,050/mt ($598/mt).
2. Rebar prices have remained unchanged, with HRB 335 16-25 mm rebar now costing RMB 4,050/mt ($598/mt).
3. The price of rebar in coil has risen by RMB 100/mt, with the new price of HRB 400 8-12 mm rebar in coil at RMB 4,150/mt ($612/mt).
All the above prices are ex-mill, inclusive of 17 percent VAT and are effective as of August 1, 2010.
$1 = RMB 6.77