Masteel reduces coated product prices for June

SteelOrbis Shanghai On May 24, Anhui Province-based Maanshan Steel (Masteel) released its June ex-factory prices for coated products. The ex-factory prices of HDG decreased RMB 40/mt ($5/mt). After the adjustment, the new price of SGCC 1.0 mm thick HDG is RMB 4,630/mt ($605/mt). The ex-factory prices of color coated coil decreased RMB 150/mt ($20/mt). After the adjustment, the new price of TSGCC 0.5 mm thick color coated coil is RMB 5,990/mt ($783/mt). The above prices all exclude 17 percent VAT and are effective as of June 1, 2007.