Baosteel adjusts August prices

SteelOrbis Shanghai Baosteel adjusted some of its prices for August deliveries. The prices of full hard coils and color coated coils increased RMB 350/mt ($44); and that of Al-Zn color coated coils increased RMB 450/mt ($56). After the adjustment, the price of 0.5 mm thick SPCC1 full hard coils increased to RMB 5,666/mt ($708), that of 0.5 mm thick TDC51D color coated coils to RMB 6,807/mt ($851), and that of 0.5mm thick TDC51D+AZ Al-Zn color coated coils to RMB 7,207/mt ($901). 17 percent VAT is excluded from the prices. Meanwhile, the company increased its common carbon medium plate prices by RMB 200/mt to RMB 4,300/mt, that of low alloy plates by RMB 350/mt to RMB 4,500/mt, that of boiler plates by RMB 1,100/mt to RMB 4,500/mt, that of shipbuilding plates by RMB 200/mt to RMB 4,700/mt. 17 percent VAT is included in these prices. All prices are effective from June 23, 2006.