Panzhihua New Steel & Vanadium announces new product prices

SteelOrbis Shanghai Sichuan Province-based Panzhihua New Steel & Vanadium Company Limited announced an adjustment to its ex-factory prices on January 23, 2007. The details are as follows: 1. The price of HR has increased RMB 234/mt ($30). After adjustment, the new price of 3.0 mm thick Q235 HRC is RMB 4,072/mt ($524), while that of 5.5 mm thick Q235 HRC is RMB 3,838/mt ($494). 2. The price of CR has risen by RMB 293/mt ($38). After adjustment, the new price of 1.0 mm thick ST12 CRC is RMB 4,973/mt ($640). 3. The mill's HDG price remains unchanged. Thus, the new price of 1.0 mm thick JY [140-180g/m2] HDG is still at RMB 5,756/mt ($741). 4. The price of pickled steel coil also remained unchanged. As a result, the price of 3.0 mm thick SPCC pickled steel coil stays at RMB 4423/mt ($569). The above prices include taxes and are effective as of January 23, 2007.