Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for long steel products, effective for mid-May (May 11-20). The details are as follows (comparisons being with prices for early May):
1. High speed wire rod prices are up by RMB 50/mt ($7/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,950/mt ($759/mt).
2. Rebar prices are unchanged. As a result, the price of 16-25 mm HRB 335 rebar remains at RMB 4,950/mt ($759/mt), while the price of 16-25 mm HRB 400 rebar has risen to RMB 5,070/mt ($777/mt).
3. Rebar in coil prices have increased by RMB 50/mt ($7/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 5,200/mt ($797/mt).
All the above prices are ex-mill, include tax and are effective from May 11.
US$1 = RMB 6.52