Jiangsu Province-based Chinese steelmaker Shagang Group has announced its ex-mill prices for long steel products, effective for early January (Jan. 1-10, 2012). The details are as follows (comparisons being with prices for late December 2011):
1. High speed wire rod prices are unchanged. Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,470/mt ($709/mt).
2. Rebar prices are unchanged. As a result, the price of 16-25 mm HRB 335 rebar remains at RMB 4,380/mt ($695/mt), while the price of 16-25 mm HRB 400 rebar has risen to RMB 4,500/mt ($714/mt).
3. Prices of rebar in coil prices have also remained unchanged. Thus, the sales price of 8 mm HRB 400 rebar in coil is still RMB 4,560/mt ($723/mt). However, 6 mm specification costs RMB 200/mt ($31/mt) more.
All the above prices are ex-mill, include tax and are effective from January 1.
US$1 = RMB 6.30