Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for long steel products, effective for late June (June 21-30). The details are as follows (comparisons being with prices for mid-June):
1. High speed wire rod prices have been reduced by RMB 80/mt ($12/mt). Thus, the price of 6.5 mm Q235 high speed common carbon wire rod has declined to RMB 4,900/mt ($755/mt).
2. Rebar prices are down by RMB 80/mt ($12/mt). As a result, the price of 16-25 mm HRB 335 rebar stands at RMB 4,900/mt ($755/mt), while the price of 16-25 mm HRB 400 rebar has decreased to RMB 5,020/mt ($773/mt).
3. Rebar in coil prices have been decreased by RMB 50/mt ($7/mt).. Thus, the sales price of 8 mm HRB 400 rebar in coil is now at RMB 5,350/mt ($824/mt).
All the above prices are ex-mill, include tax and are effective from June 21.
US$1 = RMB 6.49