SteelOrbis Shanghai
On October 11, Jiangsu Province-based Shagang issued mid-October prices for its long products, making no change from early October levels. The details are as follows:
1. Rebar prices have remained the same as early October levels. Thus, the price of 14-25 mm diameter HRB 335 is still at RMB 4,030/mt ($537/mt).
2. High-speed wire rod prices have also remained constant. As a result, the price of 6.5 mm Q235 is still at RMB 4,050/mt ($539/mt).
Based on the market situation, Shagang granted its agents a preferential price discount of RMB 50/mt ($7/mt) for rebar for early October shipment. The actual settlement price of RMB 3,980/mt ($530/mt) is still valid for mid-October.
All the above prices include 17 percent VAT and are effective from October 11 to October 20, 2007.