On September 23, giant Chinese steelmaker Hebei Iron and Steel Group reduced its ex-factory prices of flat products for October. The details are as follows:
1. Hot rolled coils prices are down RMB 400/mt ($59/mt). As a result, the new price of 5.75 mm x 1,500 mm Q235B is at RMB 3,650/mt ($535/mt).
2. CRC prices have dropped by RMB 700/mt ($103/mt). Thus, the price of 1.0 mm SPCC CRC is now at RMB 4,650/mt ($682/mt).
3. Prices of CR galvanized coils have fallen by RMB 700/mt ($103/mt), with 1.0 mm SGCC now offered at RMB 4,650/mt ($682/mt).
4. Prices of HR galvanized coils have gone down by RMB 600/mt ($88/mt). Following the adjustment, the new price of 3.0 mm SGH340 is at RMB 4,600/mt ($674/mt).
5. Color coated prices have declined by RMB 400/mt ($59/mt). Thus, the price of 0.5 mm CGCC is now at RMB 5,750/mt ($843/mt).
6. Prices of pickled products are down RMB 450/mt ($66/mt), with the new price of 3.0 mm SPHC standing at RMB 4,150/mt ($609/mt).
7. Medium plate prices have decreased by RMB 300/mt ($44/mt). As a result, the price of 14-20 mm Q235 plate is now at RMB 3,500/mt ($513/mt).
The above prices include 17 percent VAT and are effective as of September 23, 2009.
$1 = RMB 6.83