On October 22, Jiangsu Province-based Chinese steelmaker Shagang announced its ex-factory prices for long steel products for late October. The details are as follows:
1. Rebar prices are up RMB 60/mt ($9/mt) from mid-October levels. Thus, the price of 14-25 mm diameter HRB 335 is now at RMB 3,510/mt ($514/mt), while that of 14-25 mm diameter HRB 400 is at RMB 3,630/mt ($531/mt).
2. Common carbon high speed wire rod prices have risen by RMB 80/mt ($12/mt). As a result, the price of 6.5 mm Q235 is at the level of RMB 3,550/mt ($520/mt).
The above prices include 17 percent VAT and are effective from October 21 to October 31.
$1 = RMB 6.83