Shagang increases rebar prices

SteelOrbis Shanghai On December 11, the Jiangsu Province-based steelmaker Shagang announced new ex-factory prices for long products. The details are as follows. 1. Rebar prices increased RMB 20/mt ($3) compared with early December. As a result, the price of 14-25 mm diameter HRB335 has risen to RMB 3,100/mt ($396). 2. Wire rod prices have remained unchanged from late November levels, with the price of 6.5 mm diameter Q235 still at RMB 3,300/mt ($422). The above prices include 17 percent VAT and are effective from December 11 to December 20, 2006.