On October 27, Shandong Province-based Chinese steelmaker Laiwu Steel announced a upward adjustment of RMB 30/mt ($4/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 3,430/mt ($502mt).
The above price includes 17 percent VAT.
US$1 = RMB 6.83