On March 25, Hebei Steel Group made an overall downward adjustment to its ex-factory prices for April. The details are as follows:
1. Wire rod prices are down RMB 70/mt ($10/mt). As a result, the new price of 6.5 mm Q235 is at RMB 3,180/mt ($466/mt).
2. Rebar prices have decreased RMB 150/mt ($22/mt). Thus, the price of 16-25 mm diameter HRB 335 is now at RMB 3,300/mt ($483/mt).
3. Hot rolled prices saw a drop of RMB 50/mt ($7/mt). Following the adjustment, the new price of 5.5 mm Q235B is at RMB 3,350/mt ($490/mt).
4. Cold rolled prices are down RMB 50/mt ($7/mt). As a result, the price of 1.0 mm SPCC stands at RMB 4,000/mt ($586/mt).
All the above prices include 17 percent VAT and are effective as of April 1, 2009.
$1 = RMB 6.83