SteelOrbis Shanghai
In order to avoid the accusation of price monopoly, the five leading mills in northern China have decided to set their prices separately rather than issuing their prices together, effective as of September. As a result, Shougang -one of these five steelmakers- announced its ex-factory long product prices for September on August 29.
1. Rebar prices increased around RMB 270/mt ($36/mt) compared to the level of five mills in August. The ex-factory price of 16-25 mm diameter HRB 335 rebar is RMB 3,865/mt ($512/mt), while that of 12-14 mm stays at RMB 4,115/mt ($545/mt). 16-25 mm diameter HRB 400 rebar costs RMB 4,015/mt ($532/mt), while 12-14 mm is now at RMB 4,265/mt ($565/mt).
2. Wire rod prices increased nearly RMB 300/mt ($40/mt). The price of 6.5 mm diameter Q235 high speed wire rod now costs RMB 3,865/mt ($512/mt).
All the above prices include 17 percent VAT and are effective as of September 1, 2007.