SteelOrbis Shanghai
On May 1, Jiangsu Province-based Shagang announced its ex-factory prices for May. The details are as follows:
1. Rebar prices are up RMB 450/mt ($64/mt) from mid-April levels. Thus, the price of 14-25 mm diameter HRB 335 is now at RMB 5,500/mt ($787/mt).
2. High speed wire rod prices have increased by RMB 440/mt ($63/mt). As a result, the price of 6.5 mm Q235 is now at RMB 5,720/mt ($818/mt).
3. HR coils have increased by RMB 200/mt ($29/mt). Thereby, the price of 5.75 mm x 1,500 mm x C SS400 is at RMB 5,700/mt ($815/mt).
All the above prices include 17 percent VAT and are effective as of May 1.
$1 = RMB 6.988