On July 17, Shandong Province-based Chinese steelmaker Laiwu Steel announced an upward adjustment to its rebar ex-works prices for July to take effect immediately. The details are as follows:
The producer's rebar prices have increased by RMB 70/mt ($10/mt) compared with the levels issued on July 11. Following the adjustment, the new price of 16-25 mm HRB 335 is now at RMB 3,870/mt ($566/mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.83