On September 23, major Chinese steelmaker Hebei Province-based Hesteel has issued its list prices for all long steel items for September 21-30 period.
Accordingly, for the period in question, Hesteel has reduced its current offer prices for high-speed wire rod by RMB 200/mt ($28.3/mt), its rebar prices by RMB 50/mt ($7.1/mt) and its bar-in-coil prices by RMB 60/mt ($8.5/mt), to RMB 4,320/mt ($611.0/mt), RMB 3,870/mt ($547.0/mt) and RMB 4,100/mt ($580.0/mt), respectively.
Hesteel’s price changes come after the decision of Shagang Group to hold prices for its main long steel products stable for late September. Hesteel is more downbeat on the prospects for the high-speed wire rod market, while being a bit more optimistic for the rebar and bar-in-coil segments.
$1 = RMB 7.07