Jinan Steel reduces hot rolled prices

SteelOrbis Shanghai On November 27, Shandong province-based Jinan Iron and Steel Group Corporation (Jinan Steel) adjusted its ex-factory prices for hot rolled products. The price of common carbon medium plate decreased RMB 100/mt ($13). After the adjustment, the new price of 8 mm thick Q215 common carbon medium plate is RMB 4,010/mt ($512), while that of 20 mm thick Q215 common carbon medium plate is RMB 3,620/mt ($462). The price of low alloy plate decreased RMB 100/mt ($13). As a result, the new price of 8 mm thick Q345B low alloy plate is RMB 4,010/mt ($531), while that of 20 mm thick Q345B low alloy plate is RMB 3,770/mt ($481). The price of shipbuilding plate decreased RMB 50/mt ($6). After the adjustment, the new price of 8mm thick CCSB shipbuilding plate is RMB 4,420/mt ($564), while that of 20mm thick CCSB shipbuilding plate is RMB 4,030/mt ($515). The price of hot rolled coil decreased RMB 100/mt ($13). Thus, the new price of 2.75 mm thick Q235 hot rolled coil is RMB 4,070/mt ($520), while that of 5.5 mm thick hot rolled coil is RMB 3,660/mt ($467). All the above prices include 17 percent VAT and are effective as of November 27, 2006.