On March 10, Laiwu Steel and Iron Co. Ltd made a downward adjustment to its ex-factory prices of hot rolled coils. The details are as follows:
The producer's price of Q235 3.0-11.75 mm hot rolled coil has been reduced by RMB 150/mt ($21.96/mt) and is now priced at RMB 3,450/mt ($505.12/mt) including VAT. Meanwhile, the price of Q345 is RMB 150/mt ($21.96/mt) higher than the price of Q235 material of the same size, and SPHC costs RMB 50/mt ($7.32/mt) more than Q235 of corresponding size.
All the above prices include 17 percent VAT, effective from March 11, 2009.