On April 17, Liaoning Province-based Chinese steelmaker Angang announced downward adjustments to its ex-factory prices for flat steel products for May. The details are as follows:
. Hot rolled prices are down RMB 260/mt ($38/mt). Thus, the new price of 5.5 mm x 1,500 mm Q235 is RMB 2,470/mt ($362/mt).
2. Cold rolled prices have decreased RMB 250/mt ($37/mt). As a result, the price of 1.0 mm ST12 cold rolled sheet is now at RMB 3,320/mt ($486/mt).
3. Medium plate prices have dropped RMB 400/mt ($59/mt), with the price of 20 mm Q235B plate thereby falling to RMB 2,560/mt ($375/mt).
4. Heavy plate prices are down RMB 400/mt ($59/mt). Thus, the price of 80 mm Q235B heavy plate is now at RMB 2,720/mt ($398/mt).
All the above prices exclude 17 percent VAT and are effective from April 17, 2009.
$1 = RMB 6.83