SteelOrbis Shanghai
On May 15, Shandong Province-based Jinan Iron and Steel Group Corporation (Jinan Steel) issued new ex-factory prices for its products. The details are as follows:
CR
The ex-factory price for cold rolled has increased RMB 80/mt ($10/mt). After adjustment, the new price of SPCC 1.0 mm thick CRC is RMB 4,890/mt ($636/mt).
HR
The producer's ex-factory price of hot rolled has increased RMB 100/mt ($13/mt). After adjustment, the new price of Q235 5.5 mm thick HR is RMB 4,200/mt ($546/mt).
Medium sections
The ex-factory price of this product has increased RMB 100/mt ($13/mt). After adjustment, the new price of 16a# Q235 channel steel is RMB 3,500/mt ($455/mt).
Deformed bar
The ex-factory price increased RMB 100/mt ($13/mt). After adjustment, the new price of 12 mm diameter HRB 335 deformed bar is RMB 3,600/mt ($452/mt), while the price of 16-25 mm diameter HRB 335 deformed bar is RMB 3,500/mt ($440/mt).
All the above prices include 17 percent VAT and are effective as of May 15, 2007.