Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for its main flat steel products, effective for November. The details are as follows (comparisons being with prices for October):
1. Hot rolled coil (HRC): Prices of Q235 HRC are down by RMB 300/mt ($48/mt), while SPHC HRC prices are reduced by RMB 300/mt ($48/mt). Thus, the new price of 5.5 x 1,500 mm Q235 HRC is RMB 4,300/mt ($690/mt) while the price of 5.5 x 1,250 mm SPHC HRC stands at RMB 4,280/mt ($686/mt).
2. Medium plate prices have been reduced by RMB 300/mt ($48/mt). As a result, the price of 14-20 mm Q235 medium plate has declined to RMB 4,530/mt ($727/mt).
All the above prices are ex-mill, include 17 percent VAT and are effective from November 1.
US$1 = RMB 6.32