SteelOrbis Shanghai
On March 27, Shougang announced its longs prices for April, posting an upward adjustment of RMB 100/mt ($14/mt) from March levels. The details are as follows:
1. Wire rod prices have increased RMB 100/mt ($14/mt). Thus, the price of 6.5 mm diameter Q235 high speed wire rod is now at RMB 4,950/mt ($705/mt).
2. Rebar prices have risen by RMB 100/mt ($14/mt) compared with March. Following the adjustment, the new ex-factory price of 16-25 mm diameter HRB 335 rebar is RMB 4,930/mt ($702/mt), while the price of 12-14 mm is RMB 5,080/mt ($724/mt). 16-25 mm diameter HRB 400 rebar costs RMB 5,080/mt ($724/mt) and 12-14 mm is now at RMB 5,230/mt ($745/mt).
All the above prices include 17 percent VAT and are effective as of April 1, 2008.
$1 = RMB 7.02