Shagang announces early October long product prices

SteelOrbis Shanghai On September 30, Shanghai based steel mill Shagang announced its ex-factory prices for long products for early October, with prices of rebar and common carbon wire rod still the same as in late September. The price of 14-25 mm diameter HRB335 rebar is RMB 3,020/mt ($382) and that of 6.5 mm diameter Q235 high speed wire rod is RMB 3,300/mt ($418). Meanwhile, Shagang also hiked the ex-factory prices of hot rolled sheet for October. The increase range is around RMB 150-200/mt ($19-25). The price of 5.75 mm x 1,500 mm hot rolled coil reached RMB 3,800/mt ($481). The above prices include taxes and are effective as of October 1, 2006.