WISCO increases July prices

SteelOrbis Shanghai On May 29, 2006, Wuhan Iron and Steel Company (WISCO) announced price adjustment for July on some products. The price of <0.7 mm thick galvanized coils increased RMB 400/mt ($50), that of >0.7 mm thick galvanized coils increased RMB 300/mt ($37). The price of <0.45 mm thick color coated coils increased RMB 500/mt ($62), that of >0.45 mm thick color coated coils increased RMB 350/mt ($44). After the adjustment, the new price of 1.0 mm JY150 galvanized coils became RMB 4,923/mt ($614), and that of 0.55 mm WLC color coated coils became RMB 5,597/mt ($698), both prices excluding 17% VAT.