SteelOrbis Shanghai
On May 11, Jiangsu Province-based steelmaker Shagang released its ex-factory prices of long products for mid-May, which showed a considerable increase from early May levels. The details are as follows:
1. Rebar prices increased RMB 160/mt ($21/mt). As a result, the price of 14-25 mm diameter HRB 335 has gone up to RMB 3,540/mt ($460/mt).
2. Wire rod prices have risen RMB 350/mt ($46/mt). Thus, the price of 6.5 mm diameter Q235 is now at RMB 3,850/mt ($501/mt).
The above prices include 17 percent VAT and are effective from May 11 to May 20, 2007.