On September 21, Jiangsu Province-based Chinese steelmaker Shagang reduced its ex-factory longs prices for late September. The details are as follows:
1. Rebar prices are down RMB 80/mt ($12/mt) from mid-September levels. As a result, the price of 14-25 mm diameter HRB 335 is now at RMB 3,620/mt ($531/mt), while that of 14-25 mm diameter HRB 400 is at RMB 3,740/mt ($548/mt).
2. High speed wire rod prices have decreased RMB 80/mt ($12/mt). Thus, the new price of 6.5 mm Q235 is at RMB 3,620/mt ($531/mt).
The above prices include 17 percent VAT and are effective from September 21 to September 30.
$1 = RMB 6.82