On October 14, Liaoning Province-based Chinese steelmaker Angang announced its ex-factory prices for flat steel products for November delivery, making an overall downward adjustment. The details are as follows:
1. Hot rolled prices have decreased by RMB 300/mt ($44/mt) compared to the levels for October. Thus, the price of 5.5 mm x 1,500 mm Q235 is RMB 2,730/mt ($400/mt), while that of 5.5 mm x 1,500 mm SPHC is RMB 2,780/mt ($408/mt).
2. Cold rolled prices have dropped by RMB 300/mt ($44/mt) compared to October levels. As a result, the price of 1.0 mm ST12 cold rolled sheet is now at RMB 3,990/mt ($585/mt).
3. Prices of galvanized coils have moved down by RMB 300/mt ($44/mt). Thus, the new price of 1.0 mm x 1,000 mm ST01Z is at RMB 4,050/mt ($594/mt).
4. Color coated prices have declined by RMB 200/mt ($29/mt). As a result, the new ex-factory price of 0.5 mm x 1,000 mm TDX51D+Z is RMB 5,100/mt ($748/mt).
5. Medium plate prices are down by RMB 150/mt ($22/mt). Following the adjustment, the ex-factory prices of 20 mm Q235B are now at RMB 2,870/mt ($421/mt).
6. Silicon steel prices have gone down by RMB 450/mt ($66/mt). Thereby, the new price of 50AW800 is now at RMB 5,320/mt ($780/mt).
All the above prices exclude 17 percent VAT and are effective from October 14, 2009.
$1 = RMB 6.82