Shagang Group cuts local HRC prices by $14/mt for September

Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil for September this year.

Accordingly, the company has cut its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 100/mt ($14/mt) to RMB 4,200/mt ($585/mt) ex-works.

In August, the producer had raised its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 200/mt ($28/mt) to RMB 4,300/mt ($603/mt) ex-works.

$1 = RMB 7.1783