Shagang hikes longs' ex-factory prices

SteelOrbis Shanghai Shagang announced new ex-factory prices for late-May on May 21. According to the new price list: 1. Rebar price increased RMB 200/mt. After the price hike, the ex-factory price of 14-25 mm diameter HRB335 rebars became RMB 3,300/mt ($412.5). 2. Wire rod price increased RMB 150/mt. Consequently, the ex-factory price of 6.5 mm diameter Q235 wire rod became RMB 3,600/mt ($450). Taxes are excluded from the prices and the new price list is effective from May 21 to May 31, 2006.