On February 21, Jiangsu Province-based Shagang announced its ex-factory prices for late February. The details are as follows:
1. Rebar prices are down RMB 320/mt ($47/mt) from mid-February levels. Thus, the price of 14-25 mm diameter HRB 335 is now at RMB 3,550/mt ($520/mt).
2. Common carbon high speed wire rod prices have decreased by RMB 300/mt ($44/mt). As a result, the price of 6.5 mm Q235 is at the level of RMB 3,630/mt ($531/mt).
All the above prices include 17 percent VAT and are effective from February 21 to February 28.
$1 = RMB 6.83