SteelOrbis Shanghai
On January 21, Jiangsu Province-based Shagang announced upward adjustments to its ex-factory prices for late January. The details are as follows:
1. Rebar prices are up RMB 120/mt ($18/mt) from early January levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 3,870/mt ($567/mt).
2. High speed wire rod prices have increased RMB 150/mt ($22/mt), also compared to early January levels. Thus, the price of 6.5 mm Q235 is at RMB 3,900/mt ($571/mt).
3. HR coil prices for the month of February have risen by RMB 380/mt ($56/mt) compared with the prices for January. Following the adjustment, the new price of 5.75 mm x 1,500 mm x C Q235B is at RMB 4,060/mt ($594/mt).
All the above prices include 17 percent VAT. The long product prices are effective from January 21 to January 31, while the HR coil prices will be in effect for the whole month of February.
$1 = RMB 6.83