Five main north China mills hike longs prices

SteelOrbis Shanghai On February 28, the five leading northern Chinese mills - Shougang, Tangshan Steel, Xuanhua Steel, Tianjin Steel, and Chengde Steel - made an upward adjustment to their ex-factory prices for long products for the month of March. The details are as follows: 1. Rebar: Prices for rebar have increased by RMB 50/mt ($6/mt). As a result, the price of 16-25 mm diameter HRB335 rebar is now at RMB 3,250/mt ($420/mt), 12-14 mm is at RMB 3,350/mt ($433/mt), 16-25 mm diameter HRB400 rebar costs RMB 3,350/mt ($433/mt), while the price of 12-14 mm has risen to RMB 3,450/mt ($446/mt). 2. Wire rod: Meanwhile, wire rod prices have increased by RMB 80/mt ($10/mt). Following the adjustment, the price of 6.5 mm diameter Q235 high speed wire rod has risen to RMB 3,310/mt ($428/mt). All the above prices include 17 percent VAT and are effective as of March 1, 2007. $1= RMB 7.74