On August 14, Shandong Province-based Chinese steelmaker Laiwu Steel announced a downward adjustment of RMB 180/mt ($26/mt) to its rebar ex-works prices with immediate effect.
Following the adjustment, the new price of 16-25 mm HRB 335 is now at RMB 4,290/mt ($627/mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.84