SteelOrbis Shanghai
On August 1, Jiangsu Province-based Shagang announced upward adjustments to its ex-factory prices for August. The details are as follows:
1. Rebar prices are up by RMB 100/mt ($13/mt) from late July levels. Thus, the price of 14-25 mm diameter HRB 335 is now at RMB 3,620/mt ($478/mt).
2. High speed wire rod prices increased RMB 30/mt ($4/mt). As a result, the price of 6.5 mm Q235 is at RMB 3,710/mt ($490/mt).
3. HR coil prices are up by RMB 220/mt compared with the previous month. Following the adjustment, the price of 5.75 mm x 1,500 mm x C SS400 is at RMB 3,830/mt ($506/mt).
All the above prices include 17 percent VAT. The long product prices are effective from August 1 to August 10, while the HR coil prices will be in effect for the whole of August.