WISCO announces sharp price hike for March

SteelOrbis Shanghai On February 2, southeastern China's Hubei Province-based flats steelmaker Wuhan Iron & Steel Corporation (WISCO) announced ex-factory product prices for March. Especially the prices of hot rolled sheet products made a great leap of around $50/mt. The details are as follows: 1. Silicon steel Non-oriented steel: Prices increased RMB 250/mt ($32) for specifications of 50WW600 and above, while they increased RMB 400/mt ($52) for specifications below 50WW600. The February prices remain effective for other specifications than 50WW series. Following the adjustment, the new ex-factory price of 500WG800 0.5 mm non-oriented silicon steel is at RMB 4,799/mt ($618). Oriented steel: Prices increased RMB 200/mt ($26) for specifications of 30Q130 and above, while they increased RMB 300/mt ($39) for products below 30Q130. Prices of other specifications than 30Q series remain constant. Following the adjustment, the price of 30Q140 0.3 mm oriented silicon steel has increased to RMB 29,755/mt ($3834). 2. Section steel Prices increased RMB 80/mt ($10). As a result, the price of 16# Q235 angle steel is now RMB 3,130/mt ($403/mt), while that of 25# Q235 I beam is RMB 3,070/mt ($396/mt). 3. Wire rod Prices of 30# - 80#, 65MnA, and low carbon steel increased RMB 100/mt ($13) while the prices of other specifications remain unchanged. 4. Medium plate Prices of carbon structural steel, quality carbon steel, low-alloy steel, shipbuilding plate (32kg and 36kg high-strength shipbuilding plate excluded) and bridge steel increased RMB 260/mt ($34). Prices of other specifications are unchanged. Following the adjustment, the price of 14-20 mm Q235 plate is at RMB 3,870/mt ($499). 5. HR coils Prices of common carbon steel, quality carbon steel, and low-alloy steel increased RMB 400/mt ($52), while those of other specifications increased RMB 350/mt ($45). Based on this level, prices of ≥ 1800 mm width common carbon steel, quality carbon steel, and low-alloy steel increased an additional RMB 100/mt ($13). After the changes, the price of 2.75 mm Q235 is at RMB 4,160/mt ($536), while that of 5.5 mm Q235 is at RMB 4,010/mt ($517). 6. CR coils Prices of box sheet increased RMB 120/mt ($15), while those of coils increased RMB 170/mt ($23). As a result, the new price of both 1.0 mm Q195 cold rolled sheet and same quality and size coil is RMB 4,310/mt ($555). 7. CR hard coils Prices increased RMB 300/mt ($39). 8. Prices of galvanized coils and color coated coils remained stable. Prices of WLZN, DX51D+Z, and DX52D+Z decreased RMB 150/mt ($19), while prices of DX53D+Z decreased RMB 100/mt ($13). The adjusted price of 1.0mm JY150 is at RMB 4,823/mt ($622). 9. Prices of other varieties remain at February levels. All the prices exclude taxes (17 percent VAT and $1＝$7.76) and are effective as of February 3, 2007.