Shagang cuts ex-factory prices for mid-March

1. Rebar prices are down RMB 100/mt ($15/mt) from early March levels. Thus, the price of 14-25 mm diameter HRB 335 is now at RMB 3,350/mt ($490/mt).

2. Common carbon high speed wire rod prices have declined by RMB 100/mt ($15/mt). As a result, the price of 6.5 mm Q235 is at the level of RMB 3,400/mt ($498/mt).

All the above prices include 17 percent VAT and are effective from March 11 to March 20.

$1 = RMB 6.83