On November 1, Shandong Province-based Chinese steelmaker Laiwu Steel announced a downward adjustment to its HR ex-works prices for November to take effect immediately. The details are as follows:
The producer's HR prices have decreased by RMB 50/mt ($7/mt) compared with the levels issued on October 28. As a result, the new price of 5.5 mm Q235 is now at RMB 3,450/mt ($505/mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.83