SteelOrbis Shanghai
On May 21, Jiangsu Province-based Shagang announced its ex-factory prices for long products for late May. The details are as follows:
1. Rebar prices are up by RMB 350/mt ($50/mt) from mid-May levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 5,850/mt ($842/mt).
2. High speed wire rod prices have increased by RMB 200/mt ($29/mt). Thus, the price of 6.5 mm Q235 is at RMB 6,220/mt ($895/mt).
All the above prices include 17 percent VAT and are effective from May 21 to May 31, 2008.
$1 = RMB 6.95