On January 13, Chinese steel producer Shougang Group issued its ex-mill price policy for hot rolled steel coil and plate products for February 2011 as follows:
1. Shougang's prices of hot rolled carbon steel coil/plate, low alloy steel coil/plate and chequered steel coil/plate have all been increased by RMB 200/mt ($30/mt) compared to its prices for January.
2. Shougang's current ex-mill price of Q235 3.5 mm x 1,500 hot rolled coil (HRC) is RMB 4,070/mt ($615/mt), up by RMB 200/mt ($30/mt).
The above prices are ex-mill, exclude 17 percent VAT and are effective from February 1, 2011.
US$1 = RMB 6.63