On April 21, Jiangsu Province-based Chinese steel producer Shagang Group announced upward price adjustments for certain long steel products for late April.
1. The price of high speed wire rod have risen by RMB 50/mt ($7/mt), with the current ex-factory price of 6.5 mm Q 235 high speed wire rod now standing at RMB 4,700/mt ($689/mt).
2. The price of rebar has also risen by RMB 50/mt ($7/mt), with the current ex-factory price of 14-25 mm HRB 335 rebar at RMB 4,600/mt ($674/mt) and 14-25 mm HRB 400 standing at RMB 4,720/mt ($692/mt).
3. The price of rebar in coil has been increased by RMB 50/mt ($7mt), with the current ex-factory price of 8 mm HRB 400 standing at RMB 4,930/mt ($723/mt).
4. The price of hard wire rod is up by RMB 50/mt ($7/mt), with the current ex-factory price of 45# 6.5 mm hard wire rod standing at RMB 4,900/mt ($718/mt).
The above prices include 17 percent VAT and are effective from April 21 to April 30.
$1 = RMB 6.82