On May 6, Shandong Province-based Chinese steelmaker Laiwu Steel announced an upward adjustment to its hot rolled ex-works prices to be effective immediately.
The producer's HR prices have increased by RMB 20/mt ($2/mt) from the levels of 1 May. As a result, the new price of 5.5 mm Q235 is now at RMB 3,270/mt ($479/mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.82