Shagang increases hot rolled coil prices

SteelOrbis Shanghai Jiangsu province based Jiangsu Shagang Group Co Ltd adjusted its hot rolled coil ex-factory prices on September 1, 2006. The prices of commercial and low alloy hot rolled coils increased RMB 100/mt ($13), and that of SPHC hot rolled coil increased RMB 150/mt ($19). After the adjustment, the new price of 5.5 mm thick Q235 hot rolled coil became RMB 3,650/mt ($459). All of the above prices include 17 percent VAT.