SteelOrbis Shanghai
On March 1, Jiangsu Province-based Shagang announced its ex-factory prices for March. The details are as follows:
1. Rebar prices are up RMB 200/mt ($28/mt) from late February levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 5,000/mt ($704/mt).
2. High speed wire rod prices have increased RMB 250/mt ($35/mt). Thus, the price of 6.5 mm Q235 is at RMB 5,050/mt ($711/mt).
3. HR coils have jumped up sharply compared with the previous month. Prices of common carbon are up by RMB 520/mt ($73/mt), with the price of 5.75 mm x 1,500 mm x C SS400 at RMB 5,300/mt ($746/mt); meanwhile, SPHC prices have increased by RMB 470/mt ($66/mt), with the price of 2.75 mm x 1,500 mm x C SPHC reaching RMB 5,560/mt ($783/mt).
4. Wide and heavy plate prices have soared dramatically from February levels. Prices of common carbon wide and heavy plate have increased RMB 800/mt ($113), while the price of shipbuilding plate is up by RMB 900/mt ($127/mt).
All the above prices include 17 percent VAT. The long product prices are effective from March 1 to March 10, while the HR coil prices will be in effect for the whole month of March.
$1 = RMB 7.10