SteelOrbis Shanghai
On June 20, Chinese steelmaker Shougang announced its longs prices for July. The details are as follows:
1. Wire rod prices have decreased RMB 200/mt ($29/mt). Thus, the price of 6.5 mm diameter Q235 high speed wire rod is now at RMB 5,735/mt ($834/mt).
2. Rebar prices have dropped by RMB 200/mt ($29/mt) compared with June. Following the adjustment, the new ex-factory price of 16-25 mm diameter HRB 335 rebar is RMB 5,535/mt ($805/mt), while the price of 12-14 mm is RMB 5,735/mt ($834/mt). 16-25 mm diameter HRB 400 rebar costs RMB 5,735/mt ($834/mt) and 12-14 mm is now at RMB 5,935/mt ($863/mt).
All the above prices include 17 percent VAT and are effective as of July 1, 2008.
$1 = RMB 6.88