SteelOrbis Shanghai
On August 1, Jiangsu Province-based Shagang released its ex-factory prices for August. The details are as follows:
1. Rebar prices have declined by RMB 50/mt ($7/mt) from late July levels. Thus, the price of 14-25 mm diameter HRB 335 is now at RMB 5,500/mt ($805/mt), with an additional price discount of RMB 100/mt ($15/mt) for its agents who manage to achieve sales targets.
2. Common carbon high speed wire rod prices are down by RMB 200/mt ($29/mt). As a result, the price of 6.5 mm Q235 is at RMB 5,820/mt ($852/mt). Prices of special-purpose wire rod have decreased by RMB 450/mt ($66/mt).
3. HR coils have seen a decrease of RMB 200/mt ($29/mt) compared with the previous month. Following the adjustment, the price of 5.75 mm x 1,500 mm x C Q235B is at RMB 5,900/mt ($864/mt), while the price of 2.0 mm x 1,250 mm x C SPHC stands at RMB 6,600/mt ($966/mt). Prices of Q345B are up by RMB 150/mt ($22/mt). Shagang has also announced a subsidy of RMB 150/mt ($22/mt) for its agents who achieve their July sales targets. This subsidy is granted for July orders for 4.0-12.99 mm x 1,500 mm x C Q235B at a price of RMB 5,950/mt ($871/mt).
4. Wide and heavy plate prices have remained constant. As a result, the new price of 20.0-29.9 mm x 2,000-3,199 mm Q235B / SS 400 is at RMB 7,600/mt ($1,113/mt).
All the above prices include 17 percent VAT. The long product prices are effective from August 1 to August 10, while the HR coil and wide and heavy plate prices will be in effect for the whole month of August.
$1 = RMB 6.83