On November 4, Shandong Province-based Chinese steelmaker Laiwu Steel announced a upward adjustment of RMB 60/mt ($8/mt) to its rebar ex-works prices with immediate effect.
Following this latest adjustment, the new price of 16-25 mm HRB 335 is now at RMB 3,510/mt ($514mt). On November 1, Laiwu Steel had increased its rebar ex-works prices by RMB 20/mt ($2/mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.83