Shaoguan Steel hikes prices for longs again

SteelOrbis Shanghai Following the price hike on January 5, Guangdong Province-based Shaoguan Steel hiked its ex-factory prices for long products once more on January 9. Rebar prices increased RMB 80/mt ($10/mt). Following this upward adjustment, the price of 18-25 mm diameter HRB335 rebar is now at RMB 3,530/mt ($453/mt). Wire rod prices increased RMB 50/mt ($6/mt). As a result, the price of 6.5-10 mm diameter Q235 high speed wire rod has risen to RMB 3,450/mt ($442/mt). The above prices include 17 percent VAT and are effective as of January 9, 2007.