Lianyuan Steel announces price adjustment

SteelOrbis Shanghai On June 16, 2006, Lianyuan Steel adjusted their ex-factory prices of its steel products. Compared to the prices published on June 1, Lianyuan Steel increased RMB 260/mt ($33) and RMB 220/mt ($27) for its HR and CR products respectively. After the increasing, the price of Q235 5.5 mm hot rolled coil was RMB 4,440/mt ($555), and 1.0 mm CRC was RMB 5,090/mt ($636). Meanwhile, the price of galvanized products increased RMB 520/mt ($65), and the price of 1.0 mm ST012 galvanized coil reached RMB 5,570/mt ($696). VAT is included in the above prices and the prices are effective from June 16. On the other hand, Lianyuan steel will stop production at its hot rolled product line for 5-6 days due to overhaul works in the beginning of July, which may reduce the output by 30,000 mt.