Northern China mills keep longs prices unchanged

SteelOrbis Shanghai Five major steel mills in Northern China (Shougang, Tangshan Steel, Xuanhua Steel, Chengde Steel and Tianjin Steel), held the ordinary monthly price determination meeting on June 20. The mills decided to keep long steel ex-factory prices unchanged in July. Currently, the price of 6.5 mm Q235 high speed wire rod is RMB 3,550/mt ($443), and that of 16-25 mm HRB335 rebar is RMB 3,300/mt ($413), both prices including VAT. Chinese domestic steel market has recently entered into a downward trend. The mills are trying to stabilize the market prices, but achieving it does not seem quite possible.