Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for long steel products, effective for mid-March (March 11-20). The details are as follows (comparisons being with prices for early March):
1. High speed wire rod prices have risen by RMB 50/mt ($7/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,200/mt ($664/mt).
2. Rebar prices are up RMB 20/mt ($3/mt). As a result, the new price of 16-25 mm HRB 335 rebar is standing at RMB 4,170/mt ($659/mt), while the price of 16-25 mm HRB 400 rebar has risen to RMB 4,290/mt ($678/mt).
3. Prices of rebar in coil have increased by RMB 150/mt ($23/mt). Accordingly, the price of 8 mm HRB 400 rebar in coil is now RMB 4,350/mt ($688/mt). However, 6 mm size is offered at RMB 200/mt ($31/mt) higher than this level.
All the above prices are ex-mill, include tax and are effective from March 11, 2012.
US$1 = RMB 6.32