On August 17, Chinese steel producer Shougang Group issued its ex-works prices for certain flat steel products for September shipment. The new prices are as follows (comparisons being with August price levels):
1. Hot rolled coil (HRC) prices have risen by RMB 50/mt ($7.8/mt). Accordingly, the new price of SS400 5.75 mm x 1,500 mm x C HRC stands at RMB 4,120 ($645.8/mt).
2. Cold rolled coil (CRC) prices have risen by RMB 50/mt ($7.8/mt). Thus, the price of SPCC 1.0 mm x 1,250 mm x C CRC stands at RMB 4,650/mt ($728.8/mt).
3. Hot dip galvanized steel (HDG) prices have risen by RMB 50/mt ($7.8/mt). Following the increase, the price of SGH340 1.0 mm x 1,250 mm x C HDG is RMB 5,310/mt ($832.3/mt).
4. The price of full hard CRC has risen by RMB 30/mt ($4.7/mt). The price of SPCC 1.0 mm x 1,250 mm x C full hard CRC thus stands at RMB 4,440/mt ($695.9/mt).
All the prices above exclude tax and are affective as of September 1, 2011
$1 = RMB6.38