Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for its main long steel products, effective for mid-July (July 11-20). The details are as follows (comparisons being with prices for early July):
1. High speed wire rod prices are down by RMB 30/mt ($4/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,820/mt ($733/mt).
2. Rebar prices are unchanged. As a result, the price of 16-25 mm HRB 335 rebar remains at RMB 4,850/mt ($738/mt), while the price of 16-25 mm HRB 400 rebar is still at RMB 4,970/mt ($756/mt).
3. Prices of rebar in coil have decreased by RMB 50/mt ($7/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 5,200/mt ($791/mt).
All the above prices are ex-mill, include tax and are effective from July 11.
US$1 = RMB 6.47