On April 1, Jiangsu Province-based Chinese steel producer Shagang Group announced upward adjustments to its ex-factory prices of flat rolled products for the month of April, with rises of RMB 570/mt ($83/mt) and RMB 620/mt ($91/mt) for HRC and SPHC respectively. As a result, the producer's ex-factory price of 5.5 mm HRC now stands at RMB 4,600/mt ($673/mt). The price includes 17 percent VAT and is effective from April 1.
$1 = RMB 6.83