Jiangsu Province-based Chinese steelmaker Shagang Group has announced upward adjustments in its ex-mill long steel prices, effective for early May (May 1-10). The details are as follows (comparisons being with prices for late April):
1. High speed wire rod prices are up by RMB 50/mt ($7/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,900/mt ($752/mt).
2. Rebar prices have been raised by RMB 50/mt ($7/mt). As a result, the price of 16-25 mm HRB 335 rebar has increased to RMB 4,950/mt ($760/mt), while the price of 16-25 mm HRB 400 rebar has risen to RMB 5,070/mt ($778/mt).
3. Prices of rebar in coil have increased by RMB 150/mt ($23/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 5,150/mt ($791/mt).
All the above prices are ex-mill, include tax and are effective from May 1.
US$1 = RMB 6.51