Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for long steel products, effective for early March (Mar. 1-10). The details are as follows (comparisons being with prices for late February (Feb. 21-29)):
1. High speed wire rod prices are up RMB 50/mt ($7/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,150/mt ($658/mt).
2. Rebar prices are up RMB 50/mt ($7/mt). As a result, the price of 16-25 mm HRB 335 rebar stands at RMB 4,150/mt ($658/mt), while the price of 16-25 mm HRB 400 rebar has risen to RMB 4,270/mt ($677/mt).
3. Prices of rebar in coil have been raised by RMB 50/mt ($7/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now RMB 4,200/mt ($666/mt). However, 6 mm size is offered at RMB 200/mt ($31/mt) higher.
All the above prices are ex-mill, include tax and are effective from March 1, 2012.
US$1 = RMB 6.30