Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for its main long steel products, effective for early September (Sept. 1-10). The details are as follows (comparisons being with prices for late August):
1. High speed wire rod prices are unchanged. Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod remains at RMB 5,020/mt ($788/mt).
2. Rebar prices are unchanged. As a result, the price of 16-25 mm HRB 335 rebar is still at RMB 4,930/mt ($773/mt), while the price of 16-25 mm HRB 400 rebar stays at RMB 5,050/mt ($792/mt).
3. Prices of rebar in coil have been cut by RMB 50/mt ($7/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now at RMB 5,250/mt ($824/mt).
All the above prices are ex-mill, include tax and are effective from September 1.
US$1 = RMB 6.37