On October 1, Jiangsu Province-based Chinese steelmaker Shagang made downward adjustments to its ex-factory longs prices for October. The details are as follows:
1. Rebar prices are down RMB 120/mt ($18/mt) from late September levels. As a result, the price of 18-25 mm diameter HRB 335 is now at RMB 3,500/mt ($513/mt), while that of 18-25 mm diameter HRB 400 is at RMB 3,620/mt ($531/mt).
2. High speed wire rod prices have declined by RMB 100/mt ($15/mt). Thus, the new price of 6.5 mm Q235 is at RMB 3,520/mt ($516/mt).
The above prices include 17 percent VAT and are effective from October 1 to October 10
$1 = RMB 6.82