Baosteel announces Q4 prices

Baosteel announced its prices for the fourth quarter of 2006 today. Hot and cold rolled coil prices both decreased RMB 200/mt ($25) compared with the prices of the third quarter. The details of the price changes are as follows. 1. Hot rolled coil (SPHC) decreased RMB 200/ton ($25), while the prices of other hot rolled products retained the previous level. 2. Cold rolled coil (SPCC) decreased RMB 200/ton ($25), while the prices of other cold rolled products remained unchanged; 3. CR Full Hard October prices dropped RMB 400/ton from September prices; 4. HDG increased RMB 100/ton from Q3 prices; 5. October prices of color-Coated Steel decreased RMB 200/ton from September prices. 6. October prices of wide and thick steel plate increased RMB 100/ton from September prices; 7. Silicon steel increased RMB 150/ton from Q3 prices; 8. Electro-Tin Plate increased RMB 200/ton from Q3 prices. The prices of other products remained unchanged. 17 percent VAT is excluded from the prices and are in effect as of August 22, 2006.