Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for November. Accordingly, the company has cut its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 110/mt ($15.6/mt) to RMB 3,700/mt ($525.7/mt), on ex-works basis.
In October, the producer had increased its HRC offer prices by RMB 30/mt to RMB 3,810/mt.