On September 10, 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 October delivery, compared to the levels issued on August 6.
1. HR coils
Q235 prices have decreased by RMB 300/mt ($44/mt), while SPHC prices are down by RMB 400/mt ($59/mt). After the change, the price of 2.75 mm Q235 HRC is at RMB 4,300/mt ($630/mt), while that of 5.5 mm Q235 HRC is at RMB 4,240/mt ($622/mt).
2. Medium plate
Prices have declined by RMB 200/mt ($29/mt), with the new price of 14-20 mm Q235 medium plate at RMB 4,278/mt ($627/mt).
3. CR coils
Prices have fallen by RMB 300/mt ($44/mt). Thus, the price of 1.0 mm Q195 CR sheet is at RMB 5,350/mt ($784/mt), while the price of 1.0 mm Q195 cold rolled coil is now at RMB 5,300/mt ($777/mt).
All the above prices exclude 17 percent VAT and are effective as of September 10, 2009.
$1 = RMB 6.82