SteelOrbis Shanghai
On June 11, Shandong Province-based Jinan Iron and Steel Group Corporation (Jinan Steel) announced a downward adjustment to the ex-factory prices for some of its products. The details are as follows:
The ex-factory prices of deformed bar have decreased RMB 50/mt ($7). After adjustment, the new price of HRB 335 16-25 mm diameter debar is RMB 3,450/mt ($450).
The ex-factory price of cold rolled has been reduced by RMB 100/mt ($13). After adjustment, the new price of SPCC 1.0 mm thick CRC is RMB 4,690/mt ($611).
The ex-factory price of hot rolled has dropped RMB 270/mt ($35). After adjustment, the new price of Q235 5.5 mm thick HR is RMB 3,880/mt ($506).
All the above prices include 17 percent VAT and are effective as of June 11, 2007.