On July 13, Chinese steel giant Baosteel announced upward adjustments to its ex-factory prices for flat steel products for the month of August. The details are as follows:
1. HRC
SS400 prices have increased by RMB 350/mt ($51/mt), while SPHC prices are up by RMB 500/mt ($73/mt). As a result, the new price of 5.75 mm x 1,250 mm x C SS400 is now at RMB 3,942/mt ($577/mt), while that of 2.0 mm x 1,250 mm x C SPHC stands at RMB 4,492/mt ($658/mt).
2. Cold rolled prices have gone up by RMB 500/mt ($73/mt). Thus, the price of 1.0 mm x 1,250 mm x C DC01 is at RMB 4,526/mt ($663/mt).
3. Prices of hot rolled pickled products have jumped up by RMB 400/mt ($59/mt), with the price of 3.0 mm x 1,250 mm x C SPHC now at RMB 4,197/mt ($614/mt).
4. Prices of hot dip galvanized coils have risen by RMB 500/mt ($73/mt). Following the adjustment, the new price of 1.0 mm x 1,250 mm x C DC51D+Z is now at RMB 4,777/mt ($699/mt).
5. Electrogalvanized prices are up by RMB 500/mt ($73/mt). Thereby, the new price of 1.0 mm x 1,250 mm x C SECC is at RMB 6,017/mt ($881/mt).
6. Color coated prices have increased RMB 500/mt ($73/mt).
7. Electrical steel prices have increased RMB 600/mt ($88/mt) for B50AH600 and B50A600.
All the above prices exclude 17 percent VAT and are effective from July 13, 2009.
$1 = RMB 6.83