On September 1, Jiangsu Province-based Chinese steelmaker Shagang announced decreased ex-factory hot rolled prices for September. The details are as follows:
The producer's HR coil prices have decreased by RMB 700/mt ($102/mt) compared with the prices for August. Following the adjustment, the new price of 5.75 mm x 1,500 mm x C Q235B is at RMB 3,800/mt ($556/mt), while that of 2.0 mm x 1,250 mm x C SPHC stands at RMB 4,530/mt ($663/mt).
The above prices include 17 percent VAT and will remain in effect for the whole month of September.
$1 = RMB 6.83