SteelOrbis Shanghai
On October 21, Shandong Province-based Laiyang Iron and Steel Co., Ltd announced a downward adjustment of its ex-factory prices for H-sections. The details are as follows:
Large sized H-section prices are down by RMB 850/mt ($124.5/mt), while small and medium sized H-section prices have slipped by RMB 550/mt ($80.5/mt). For low alloy products, there will be an additional surcharge of RMB 260/mt ($38/mt).
As a result of the adjustment, H-sections of 400 × 400 mm size are now priced at RMB 4,280/mt ($626.6/mt) ex-works, including VAT.
All the above prices include 17 percent VAT, and are effective from October 21, 2008.
$1 = RMB 6.83