On September 7, Chinese steel giant Baosteel announced its ex-factory prices for flat steel products for the month of October. The details are as follows:
1. HRC
SS400 prices have decreased by RMB 300/mt ($44/mt), while SPHC prices are down by RMB 200/mt ($29/mt). As a result, the new price of 5.75 mm x 1,250 mm x C SS400 is now at RMB 4,242/mt ($621/mt), while that of 2.0 mm x 1,250 mm x C SPHC stands at RMB 4,792/mt ($702/mt).
2. Cold rolled prices have remained constant at September levels. Thus, the price of 1.0 mm x 1,250 mm x C DC01 is still at RMB 5,126/mt ($751/mt).
3. Prices of hot rolled pickled products have gone down by RMB 300/mt ($44/mt), with the price of 3.0 mm x 1,250 mm x C SPHC now at RMB 4,497/mt ($658/mt).
4. Prices of hot dip galvanized coils have remained the same as September levels. Thereby, the price of 1.0 mm x 1,250 mm x C DC51D+Z is still at RMB 5,377/mt ($787/mt).
5. September prices are still in effect for electrogalvanized products. Thus, the price of 1.0 mm x 1,250 mm x C SECC is at RMB 6,617/mt ($969/mt).
6. Color coated prices have dropped by RMB 600/mt ($88/mt). Following the adjustment, the new price of 0.5 mm x 1,000 mm x C TSt01 is now at RMB 5,969/mt ($874/mt).
7. Electrical steel prices have remained unchanged from September levels.
8. September prices are still in effect for wide and heavy plate.
All the above prices exclude 17 percent VAT and are effective from September 7, 2009.
$1 = RMB 6.83