SteelOrbis Shanghai
On April 26, the five leading northern Chinese mills - Shougang, Tangshan Steel, Xuanhua Steel, Tianjin Steel and Chengde Steel - announced an upward adjustment of RMB 130/mt ($17) to their prices for May compared with April levels. The details are as follows:
1. Rebar
After the upward adjustment, the May price of 16-25 mm diameter HRB 335 rebar is at RMB 3,380/mt ($438), 12-14 mm is at RMB 3,530/mt ($458), 16-25 mm diameter HRB400 rebar costs RMB 3,480/mt ($451), while the price of 12-14 mm has increased to RMB 3,630/mt ($471).
2. Wire rod
The May price of 6.5 mm diameter Q235 high speed wire rod is RMB 3,440/mt ($446).
All the above prices include 17 percent VAT and are effective as of May 1, 2007.