Shagang releases prices for mid-October

SteelOrbis Shanghai On October 11, Shanghai based steelmaker Jiangsu Shagang Group Co Ltd (Shagang), announced its ex-factory prices of long products for mid-October. Rebar prices increased RMB 30/mt ($4) compared with early-October. The price of 14-25 mm diameter HRB335 rebar is at RMB 3,050/mt ($386). Common carbon wire rod prices remained unchanged. The price of 6.5 mm Q235 high speed wire rod is at RMB 3,300/mt ($417). The above prices include 17 percent VAT and are effective as of October 11, 2006.