On March 6, Hebei Steel Group announced an overall downward adjustment of its ex-factory prices for March. The details are as follows:
1. Wire rod prices are down RMB 410/mt ($60/mt). As a result, the new price of 6.5 mm Q235 is at RMB 3,250/mt ($476/mt).
2. Rebar prices have decreased RMB 210/mt ($31/mt). Thus, the price of 16-25 mm diameter HRB 335 is now at RMB 3,450/mt ($505/mt).
3. Hot rolled prices saw a drop of RMB 250/mt ($37/mt). Following the adjustment, the new price of 5.5 mm Q235B is at RMB 3,400/mt ($498/mt).
4. Cold rolled prices are down RMB 250/mt ($37/mt). Thereby, the price of 1.0 mm SPCC stays at RMB 4,050/mt ($593/mt).
All the above prices include 17 percent VAT and are effective as of March 1, 2009.
$1 = RMB 6.83