Tangshan Steel announces latest price list for flats

SteelOrbis Shanghai On November 24, Tangshan Steel, the largest steelmaker in North China's Hebei province, released its latest price list for flat rolled products. The details are as follows: 1. The settlement and contract prices of hot rolled coils; which indicate the actual payment levels to be made by traders to the factory, the both saw reductions. The settlement price of Q235 >4.0mm hot rolled coils in November decreased RMB 100/mt ($13) month on month to RMB 3,650/mt ($465). Meanwhile, the contract price for December decreased RMB 50/mt ($6) to RMB 3,850/mt ($490) compared with the price for November. 2. The settlement and contract prices of cold rolled coils remained constant. The settlement price of 1.0 mm cold rolled coils in November is RMB 4,460/mt ($568), while the contract price for December is RMB 4,500/mt ($573). The above prices include taxes and are effective as of November 24, 2006. Contract prices are the prices offered for the products in the beginning of the month and received as a payment from the traders. Meanwhile, settlement prices are the prices determined by the mill in the end of the month according to the market situation. The difference between the two prices is set off from the next month purchases of traders.