LianYuan Steel issues new prices

SteelOrbis Shanghai On October 31, 2006, Hunan province-based LianYuan Steel made an adjustment to its ex-factory prices. The ex-factory price of <3.0 mm thick HR decreased RMB 50 per ton ($6), while that of >3.0 mm thick HR decreased RMB 80 per ton ($10). After adjustment, the new base price of 2.75 mm Q235 HR is RMB 4,090 per ton ($520), and that of 5.5 mm Q235 HR is RMB 3,830 per ton ($487) The ex-factory price of CR remained unchanged. The price of <0.5 mm thick GI increased RMB 30-200 per ton ($4-25), while that of 1.2 mm thick GI decreased RMB 20 per ton ($3). After adjustment, the new base price of 1.0 mm SPCC CR is RMB 4,590 per ton ($583) and that of 1.0 mm ST012 GI is RMB 5,350 per ton ($680). All the above prices include 17% VAT and are effective as of October 31.