On March 31, Chinese steelmaker Shougang released its ex-factory prices for certain products for the month of April. The details are as follows:
1. Hot rolled prices have decreased RMB 250/mt ($37/mt). As a result, the new price of 5.5 mm x 1,500 mm Q235 is at RMB 3,400/mt ($498/mt).
2. Cold rolled prices are down RMB 200/mt ($29/mt). Thus, the price of 1.0 mm SPCC is now at RMB 4,150/mt ($608/mt).
3. Full hard prices have seen a drop of RMB 200/mt ($29/mt), with the price of 1.0 mm SPCC decreasing to RMB 3,850/mt ($564/mt).
4. Prices of galvanized coils have dropped RMB 200/mt ($29/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 4,350/mt ($637/mt).
5. Rebar prices have decreased RMB 360/mt ($53/mt). Thus, the price of 16-25 mm diameter HRB 335 is now at RMB 3,300/mt ($483/mt), while that of 16-25 mm diameter HRB 400 is RMB 3,380/mt ($495/mt).
6. Wire rod prices are down RMB 480/mt ($70/mt). As a result, the new price of 6.5 mm Q235 is at RMB 3,180/mt ($466/mt).
All the above prices include 17 percent VAT and are effective from April 1, 2009.
$1 = RMB 6.83