Tangshan Steel and Shagang increase flat product prices

SteelOrbis Shanghai Tangshan Steel and Shagang adjusted their ex-factory prices on June 1, 2006. Tangshan Steel increased its hot rolled product ex-factory prices by RMB 150/mt ($19). The price of 2.75 mm hot rolled coils increased to RMB 4,450/mt ($555), and 5.5 mm to RMB 4,300/mt ($536). Tangshan Steel increased its cold rolled product prices RMB 100/mt ($12), and the price of 1.0 mm thick SPCC cold rolled coil reached 5,100/mt ($636). Shagang increased its hot rolled product prices by RMB 300/mt ($37), and the price of 5.5 mm hot rollec coil reached RMB 4,400/mt ($549). VAT is included in all prices, and the prices are effective from June 1, 2006. Many major steel mills have recently hiked their prices, leading to a sharp increase in the market prices. The price of 5.5 mm HRC RMB 100/mt ($12) in Shanghai today, marking the third consecutive day with such an increase.