On January 11, Jiangsu Province-based Shagang announced upward adjustments to its ex-factory longs prices for mid-January. The details are as follows:
1. Rebar prices are up RMB 80/mt ($12/mt) from early January levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 3,860/mt ($566/mt).
2. High speed wire rod prices have increased RMB 100/mt ($15/mt), also compared to early January levels. Thus, the price of 6.5 mm Q235 is at RMB 4,050/mt ($594/mt).
The above prices include 17 percent VAT and are effective from January 11 to January 20.