On August 24, Chinese steelmaker Shougang released its ex-factory flats prices for September. The details are as follows:
1. Hot rolled prices have remained constant at August levels. Thus, the price of 5.5 mm x 1,500 mm Q235 is still at RMB 4,210/mt ($616/mt).
2. Cold rolled prices have seen an increase of RMB 300/mt ($44/mt). As a result, the new price of 1.0 mm SPCC is RMB 5,470/mt ($801/mt).
3. Prices of galvanized coils have gone up by RMB 200/mt ($29/mt). Following the adjustment, the new price of 1.0 mm ST01Z stands at RMB 5,730/mt ($839/mt).
All the above prices include 17 percent VAT and are effective from August 24, 2009.
$1 = RMB 6.83