SteelOrbis Shanghai
On February 1, Jiangsu Province-based Shagang announced its ex-factory prices for February. The details are as follows:
1. Rebar prices are up RMB 50/mt ($7/mt) from late January levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 4,550/mt ($634/mt).
2. High speed wire rod prices remain unchanged. Thus, the price of 6.5 mm Q235 is still at RMB 4,600/mt ($641/mt).
3. HR coils have also climbed up compared with the previous month. Prices of common carbon and low alloy are up by RMB 80/mt ($11/mt), with the price of 5.75 mm x 1,500 mm x C SS400 at RMB 4,780/mt ($672/mt); meanwhile, SPHC prices increased by RMB 120/mt ($17/mt), with the price of 2.75 mm x 1,500 mm x C SPHC reaching RMB 5,090/mt ($709/mt).
All the above prices include 17 percent VAT. The long product prices are effective from February 1 to February 20, while the HR coil prices will be in effect for the whole month of February.
$1 = RMB 7.18