Jiangsu Province-based Chinese steelmaker Shagang Group has announced its ex-mill prices for long steel products, effective for early June (June 1-10). The details are as follows (comparisons being with prices for late May (May 21-31)):
1. High speed wire rod prices are unchanged. Thus, the price of 6.5 mm Q235 high speed common carbon wire rod remains at RMB 4,980/mt ($766/mt).
2. Rebar prices are unchanged. As a result, the price of 16-25 mm HRB 335 rebar remains at RMB 4,980/mt ($766/mt), while the price of 16-25 mm HRB 400 rebar is at RMB 5,100/mt ($784/mt).
3. Prices of rebar in coil have increased by RMB 50/mt ($7/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 5,350/mt ($823/mt).
All the above prices are ex-mill, include tax and are effective from June 1.
US$1 = RMB 6.50