SteelOrbis Shanghai
On June 26, Shandong Province-based Jinan Iron and Steel Group Corporation (Jinan Steel) made a downward adjustment to ex-factory prices for some of its products. The details are as follows:
The producer's cold rolled ex-factory prices have decreased RMB 100/mt ($13/mt). After adjustment, the new price of SPCC 1.0 mm thick CRC is RMB 4,590/mt ($603/mt).
Hot rolled ex-factory prices have been reduced by RMB 100/mt ($13/mt). After adjustment, the new price of Q235 grade 5.5 mm thick HR is RMB 3,780/mt ($497/mt).
All the above prices include 17 percent VAT and are effective as of June 26, 2007.