On July 1, Jiangsu Province-based Chinese steelmaker Shagang Group published its ex-mill prices for certain long steel products for July, making downward adjustments. The details are as follows:
1. The price of rebar has decreased by RMB 50/mt ($7/mt). Thus, the new price of HRB 335 14-25 mm rebar is RMB 3,900/mt ($575/mt), while that of HRB 400 14-25 mm rebar is RMB 4,020/mt ($592/mt). Compared to the base prices for 14-25 mm specifications, prices of 12 mm rebar are RMB 30/mt ($4/mt) higher, prices of 10 mm rebar are RMB 80/mt ($12/mt) higher, and prices of 28 mm and 32 mm rebar are higher by RMB 50/mt ($7/mt).
2. The price of common carbon wire rod has decreased by RMB 50/mt ($7/mt). As a result, the new price of 6.5 mm Q235 common carbon high speed wire rod is RMB 4,200/mt ($619/mt).
3. The price of deformed bar in coil has decreased by RMB 100/mt ($15mt). Thus, the price of HRB 400 8 mm material is RMB 4,300/mt ($634/mt).
4. The price of premium wire rod has declined by RMB 200/mt ($29/mt). As a result the new price of 45# 6.5 mm hard wire rod is RMB 4,400/mt ($649/mt), the price of 30MnSi 6.5 mm is RMB 4,370/mt ($645/mt), and the price of 82B 6.5 mm is RMB 4,540/mt ($670/mt).
All the above prices are ex-mill, include 17 percent VAT and are effective from July 1.
US$1 = RMB 6.78