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 early July (July 1-10). The details are as follows (comparisons being with prices for late June):
1. High speed wire rod prices are down by RMB 50/mt ($7/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,850/mt ($747/mt).
2. Rebar prices have been reduced by RMB 50/mt ($7/mt). As a result, the price of 16-25 mm HRB 335 rebar has dropped to RMB 4,850/mt ($747/mt), while the price of 16-25 mm HRB 400 rebar has fallen to RMB 4,970/mt ($765/mt).
3. Prices of rebar in coil have decreased by RMB 100/mt ($15/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 5,250/mt ($808/mt).
All the above prices are ex-mill, include tax and are effective from July 1.
$1 = RMB 6.49