Jiangsu Province-based Chinese steelmaker Shagang Group has announced the latest adjustment in its ex-mill prices for its main steel products, effective for early November (Nov. 1-10). The details are as follows (comparisons being with prices for late October):
1. High speed wire rod prices are down by RMB 220/mt ($35/mt). Thus, the new price of 6.5 mm Q235 high speed common carbon wire rod is RMB 4,500/mt ($722/mt).
2. Rebar prices have been reduced by RMB 150/mt ($24/mt). As a result, the price of 16-25 mm HRB 335 rebar has declined to RMB 4,380/mt ($703/mt), while the price of 16-25 mm HRB 400 rebar is now at RMB 4,500/mt ($722/mt).
3. Prices of rebar in coil have decreased by RMB 200/mt ($32/mt). Thus, the sales price of 8 mm HRB 400 rebar in coil is now at RMB 4,570/mt ($733/mt).
All the above prices are ex-mill, include tax and are effective from November 1.
US$1 = RMB 6.32