Benxi Steel also increases flats prices for March

SteelOrbis Shanghai Following the sharp price hikes of the other mills, Benxi Steel has also increased its prices in expectation of a rosy market after the holiday. Nevertheless, Benxi Steel has preferred a modest increase compared to Shagang and Wugang. On February 7, Liaoning Province-based Benxi Steel issued its ex-factory prices for March. The details are as follows: 1. HR coils prices increased RMB 300/mt ($39/mt) from February levels, with a smaller preferential price increase of RMB 200/mt ($26/mt) for the mill's agents. Excluding the preferential price, the price of Q235 3.0 mm is now at RMB 3,550/mt ($459/mt), while that of Q235 5.75 mm is at RMB 3,470/mt ($448/mt). 2. CR coils prices increased RMB 150/mt ($19/mt) from February levels. As a result, the ex-factory price of Q195 1.0 mm thick box sheet is at RMB 4,260/mt ($550/mt), while that of Q195 1.0 mm x 1,250 mm x C CR coil is at RMB 4,190/mt ($541/mt). 3. Full hard coils have remained unchanged. Thus, the price of 1.0 mm remains at RMB 3,850/mt ($497/mt). 4. Galvanized coils prices have remained constant, and so the price of ST01Z 1.0 mm x 1,250 mm x C is still at RMB 4,940/mt ($638/mt). 5. Color coated prices are also unchanged. As a result, the price of TDC51D 0.47 mm x 1,250 mm x C is still at RMB 5,950/mt ($769). All the above prices exclude 17 percent VAT and are effective as of February 7, 2007. $1 = RMB 7.74