Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for long steel products, effective for late March (Mar. 21-31). The details are as follows (comparisons being with prices for early March):
1. High speed wire rod prices are down by RMB 100/mt ($15/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,750/mt ($724/mt).
2. Rebar prices are down by RMB 100/mt ($15/mt). As a result, the price of 16-25 mm HRB 335 rebar has decreased to RMB 4,750/mt ($724/mt), while the price of 16-25 mm HRB 400 rebar has dropped to RMB 4,870/mt ($742/mt). For HRB 335 rebar, there is a surcharge of RMB 100/mt ($15/mt) for 10 mm size, of RMB 60/mt ($9/mt) for 12 mm, RMB 20/mt ($3/mt) for 14 mm and RMB 100/mt ($15/mt) for 28-32 mm sizes, as compared to prices for 16-25 mm sizes.
3. Prices of rebar in coil have been reduced by RMB 100/mt ($15/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 4,850/mt ($739/mt).
All the above prices are ex-mill, include tax and are effective from March 21.
US$1 = RMB 6.56