On June 23, Chinese steelmaker Hebei Iron and Steel Group announced reduced prices for long steel products for the month of July. The details, with changes compared to June levels, are as follows:
1. Wire rod prices of Hebei Iron and Steel Group's subsidiaries Tangshan Steel, Xuanhua Steel and Chengde Steel have decreased by RMB 50/mt ($7/mt). As a result, the new ex-mill prices for Q235 6.5mm high speed wire rod are at RMB 3,950/mt ($579/mt).
2. Rebar prices of Tangshan Steel, Xuanhua Steel and Chengde Steel have declined by RMB 250/mt ($37/mt). As a result, the new ex-mill price for HRB 335 18-25 mm rebar is RMB 4,050/mt ($595/mt); prices of small rebar sizes are RMB 50/mt ($7/mt) higher than prices of large rebar sizes, while HRB 400 prices cost RMB 80/mt ($12/mt) more than prices of HRB 335.
3. Prices of rebar in coil of Tangshan Steel, Xuanhua Steel and Chengde Steel have decreased by RMB 250/mt ($37/mt). The new price for HRB 400 8-12 mm material stands at RMB 4,050/mt ($595/mt).
All the above prices include 17 percent VAT and are effective as of July 1, 2010.
$1 = RMB 6.81