On October 14, Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Corporation (WISCO) made a downward adjustment to the ex-factory prices of some of its flat steel products for November delivery.
1. HR coils
Prices have decreased by RMB 350/mt ($51/mt). After the change, the price of 2.75 mm Q235 HRC is at RMB 3,950/mt ($579/mt), while that of 5.5 mm Q235 HRC is at RMB 3,890/mt ($570/mt).
2. Medium plate
Prices have declined by RMB 300/mt ($44/mt), with the new price of 14-20 mm Q235 medium plate at RMB 3,978/mt ($583/mt).
3. CR coils
Prices have fallen by RMB 400/mt ($59/mt). Thus, the price of 1.0 mm Q195 CR sheet is at RMB 4,950/mt ($726/mt), while the price of 1.0 mm Q195 cold rolled coil is now at RMB 4,900/mt ($718/mt).
All the above prices exclude 17 percent VAT and are effective as of October 14, 2009.
$1 = RMB 6.82