Shandong Province-based Chinese steelmaker Shandong Iron and Steel Company Ltd. (Shandong Steel Co.) has announced that it plans to buy back its own shares worth RMB 200-400 million ($28.2-56.4 million), with the price of repurchasing shares not exceeding RMB 1.98/share ($0.28/share).
Meanwhile, Shandong Steel has announced stable finished steel prices for February, with the price of Q235B 20 mm x 2,200 mm x 12,000 mm steel plate at RMB 6,250/mt ($880/mt), Q235B/SS400 4.0 mm x 1,500 mm HRC at RMB 5,700/mt ($803/mt), Q235B 4.0 mm x 2,050 mm HRC at RMB 5,750/mt ($810/mt), HRB 400E 22 mm hot rolled ribbed bar at RMB 5,200/mt ($732/mt), and the price of HRB 400E 10 mm debar-in-coil at RMB 5,520/mt ($777.5/mt).