Magang adjusts prices

SteelOrbis Shanghai China's Anhui province based steelmaker Ma Steel (Magang) adjusted its galvanized coil and color coated coil ex-factory prices for early June on May 31. The company increased galvanized coil prices by RMB 200/mt ($25), and color coated coil prices by RMB 100/mt ($12). After adjustment, the new price of 1.0 mm thick SGCC galvanized coils is RMB 4,720/mt ($589), and that of 0.45 mm thick TSGCC color coated coils is RMB 6,010/mt ($749). 17 percent VAT is excluded from both prices.