On October 22, major Chinese steelmaker Hebei Province-based Hesteel has issued its list prices for all long steel items for the October 21-31 period.
Accordingly, for the period in question, Hesteel has reduced its current offer prices for rebar and bar-in-coil by RMB 40/mt ($5.7/mt) and RMB 130/mt ($18/mt), to RMB 3,830/mt ($542/mt) and RMB 3,970/mt ($562/mt), respectively, though it has kept its offer prices for high-speed wire rod stable at RMB 4,170/mt ($590/mt). All prices are on ex-works basis.
Hesteel’s price changes come after the decision of Shagang Group to hold its prices for high-speed wire rod and bar-in-coil stable for late October, while it decreased its offer prices for rebar by RMB 100/mt ($14/mt) for the given period.
$1 = RMB 7.067