On August 14, Shandong Province-based Chinese steelmaker Laiwu Steel announced an downward adjustment to its HR ex-works prices for August to take effect immediately. The details are as follows:
The producer's HR prices have decreased by RMB 230/mt ($34/mt) compared with the levels issued on August 3. As a result, the new price of 5.5 mm Q235 is now at RMB 4,000/mt ($585/mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.84