Benxi Steel dropped prices for September

SteelOrbis Shanghai Benxi Steel announced its price policy for September deliveries: 1. Hot rolled coil price decreased RMB 700/mt ($88). The ex-factory price of 5.5 mm Q235 hot rolled coil is now RMB 3,709/mt ($465). 2. Cold rolled coil price decreased RMB 500/mt ($63). So, the ex-factory price of 1.0 mm x 1,250 mm Q195 cold rolled coil dropped to RMB 4,949/mt ($620). 3. Galvanized coil price decreased RMB 350/mt ($44). Now, the ex-factory price of 1.0 mm x 1,250 mm ST01Z is RMB 5,522/mt ($692). 4. Color coated coil price decreased RMB 350/mt ($44). Accordingly, the ex-factory price of 0.45 mm TSt01 became RMB 6,845/mt ($857). The above prices include VAT and are effective as of August 15, 2006.