Baotou Steel cuts ex-factory prices for HR and CR

SteelOrbis Shanghai On May 19, Inner Mongolia Autonomous Region-based Baotou Steel adjusted its ex-factory prices for HR and CR. The ex-factory price of HR decreased RMB 50/mt ($7/mt). After the adjustment, the new price of 5.5 mm thick Q235 HRC is RMB 4,050/mt ($529/mt). The ex-factory price of CR decreased RMB 50/mt ($7/mt). After the adjustment, the new price of 1.0 mm thick SPCC CRC is RMB 4,900/mt ($641/mt). The above prices include 17 percent VAT and are effective as of May 19, 2007.