Jiangsu Province-based Chinese steel producer Shagang Group has issued its ex-mill prices for flat steel products, effective for early January 2011 (January 1-10). The details are as follows:
Shagang Group's hot rolled coil (HRC) prices have increased by RMB 250/mt ($37/mt) compared to its HRC price levels for late December (December 21-31). As a result, its new price for 5.5 mm Q235 HRC is RMB 4,650/mt ($702/mt), while its price for 5.5 mm SPHC has risen to RMB 4,730/mt ($714/mt).
The above prices are ex-mill, include 17 percent tax and are effective from January 1, 2011.
US$1 = RMB 6.62