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 mid-October (Oct. 11-20). The details are as follows (comparisons being with prices for early October):
1. High speed wire rod prices have decreased by RMB 30/mt ($5/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod remains at RMB 4,850/mt ($763/mt).
2. Rebar prices are unchanged. As a result, the price of 16-25 mm HRB 335 rebar is still at RMB 4,650/mt ($731/mt), while the price of 16-25 mm HRB 400 rebar stays at RMB 4,770/mt ($750/mt).
3. Prices of rebar in coil have been cut by RMB 20/mt ($3/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now at RMB 4,900/mt ($771/mt).
All the above prices are ex-mill, include tax and are effective from October 11.
US$1 = RMB 6.36