On March 22, Jiangsu Province-based Chinese steelmaker Shagang Group issued new prices for long steel products for late March. The details are as follows:
1. The price of high speed wire rod has increased by RMB 250/mt ($37/mt), with the current ex-factory price of 6.5 mm Q 235 high speed wire rod at RMB 4,300/mt ($630/mt).
2. The price of rebar has risen by RMB 250/mt ($37/mt). As a result, the current ex-factory price of 14-25 mm HRB 335 rebar is RMB 4,150/mt ($609/mt), with the ex-factory price of 14-25 mm HRB 400 at RMB 4,270/mt ($626/mt).
All the above prices include 17 percent VAT and are effective from March 22 to March 31 inclusive.