Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for flat steel products, effective for the month of January. The details are as follows (comparisons being with prices for December):
1. Hot rolled coil (HRC): prices of Q235 HRC are up by RMB 60/mt ($9/mt), while SPHC HRC prices have been reduced by RMB 60/mt ($9/mt). Thus, the new price of 5.5 mm x 1,500 mm Q235 HRC is RMB 4,260/mt ($676/mt), while the price of 5.5 mm x 1,250 mm SPHC HRC stands at RMB 4,280/mt ($679/mt).
2. Medium plate prices have been reduced by RMB 30/mt ($4/mt). As a result, the price of 14-20 mm Q235 medium plate has dropped to RMB 4,270/mt ($677/mt).
All the above prices are ex-mill, include 17 percent VAT and are effective from January 1, 2012.
US$1 = RMB 6.30