Magang announces July prices

SteelOrbis Shanghai Major Chinese steelmaker Maanshan Iron & Steel Co. Ltd (Magang) released its ex-factory price list for July on 21 June, 2006. The mill increased its 6.5 mm dia. Q235 high speed and common wire rod prices by RMB 40/mt ($5), and the base price reached RMB 3,220/mt ($403); 14-15 mm dia. rebar prices by RMB 60/mt ($8) to RMB 2,920/mt ($365). The ex-factory prices of 14 mm thick common plates increased RMB 450/mt ($56) to RMB 3,930/mt ($491), and 14 mm thick low-alloy plates increased RMB 550/mt ($69) to RMB 4,170/mt ($521). The prices of hot rolled sheets and coils increased RMB 440/mt ($55). The base price of 3.5 mm thick hot rolled coils reached RMB 4,220/mt ($528). Meanwhile, the increase range of cold rolled sheets and coils was lower. The base price of 1.0 mm cold rolled coil increased RMB 250/mt ($31) to RMB 4,600/mt ($575). The prices of <0.45 mm color coated coils increased RMB 100/mt ($12). After the adjustment, the new price of 0.45 mm thick TSGCC color coated coils reached RMB 6,310/mt ($789). 17 percent VAT is excluded from all prices.