On September 11, Jiangsu Province-based Chinese steelmaker Shagang reduced its ex-factory longs prices for mid-September. The details are as follows:
1. Rebar prices are down RMB 100/mt ($15/mt) from early September levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 3,700/mt ($542/mt), while that of 18-25 mm diameter HRB 400 is at RMB 3,820/mt ($559/mt).
2. High speed wire rod prices have decreased RMB 100/mt ($15/mt). Thus, the new price of 6.5 mm Q235 is at RMB 3,700/mt ($543/mt).
The above prices include 17 percent VAT and are effective from September 11 to September 20.
$1 = RMB 6.83