Baotou Steel announces December ex-factory prices

SteelOrbis Shanghai On November 24, China's Inner Mongolia Autonomous Region-based Baotou Steel announced its ex-factory prices for December. The details are as follows. 1. Hot rolled coils decreased RMB 300/mt ($38) compared with November. As a result, the ex-factory price of Q235 5.5 mm hot rolled coil is now at RMB 3,600/mt ($459). 2. Cold rolled coils decreased RMB 250/mt ($32) month on month. The ex-factory price of SPCC 1.0 mm cold rolled coil now stands at RMB 4,550/mt ($580). 3. The prices of galvanized coils remained constant, with SGCC 1.0 mm galvanized coil still at RMB 5,300/mt ($675). The above prices include 17 percent VAT and are effective as of November 23, 2006. The decrease closes the gap between Baotou and other northern China mills in terms of hot and cold rolled sheet prices for the deliveries to Shanghai market.