On November 5, major Chinese steelmaker Hebei Province-based Hesteel has issued its list prices for all long steel items for the November 1-10 period.
Accordingly, for the period in question, Hesteel has reduced its current offer prices for rebar by RMB 50/mt ($7.1/mt) to RMB 3,780/mt ($537/mt), though it has kept its offer prices for high-speed wire rod and bar-in-coil stable at RMB 4,170/mt ($592.5/mt) and RMB 3,970/mt ($564/mt), respectively. All prices are on ex-works basis.
Hesteel’s price adjustment has come after the decision of Shagang Group to keep its offer prices for high-speed wire rod, bar-in-coil and rebar stable for the given period.
$1 = RMB 7.038