Chinese steel maker Baoshan announces price increase for Q1-2005

Chinese steel maker Baoshan announces price increase for Q1-2005

Chinese Steel Maker Baoshan Steel has made an announcement regarding its price policy to be applied for the first quarter of 2005:

For hot rolled coils        : of 2.0mm, increase by RMB 600/mt ($72/mt), 
                              of 2.0-2.99mm, increase by RMB 450/mt ($54/mt) 
For cold rolled coils       :increase by RMB 400/mt ($48/mt),
For cold rolled sheets      :increase by RMB 450/mt ($54/mt),
For cold rolled full hard   :increase by RMB 400/mt ($48/mt), 
For galvanized iron coils   :increase by RMB 300/mt ($36/mt), 
Tinplate                    :increase by RMB 400/mt ($48/mt), 
Prepainted galvanized iron  :increase by RMB 200/mt ($24/mt). 

With such price increase, the price of all the above referenced main items will have seen an increase of about 3-10% on quarter on quarter basis.