China’s Shagang Steel slashes rebar price for mid-June sales

China’s Shagang Steel has slashed rebar prices by RMB 300/t for mid-Jun’21 sales, while keeping other long steel prices unchanged. The revised price is effective from 11 Jun. All prices are on ex-mill basis, inclusive of taxes.

• Rebar (16-25 mm) price is at RMB 5,200/t ($814) (-RMB 300).
• Price of wire rod (6-10mm) is at RMB 5,610/t ($878) (unchanged).
• Coiled rebar (8-10 mm) price is at RMB 5,700/t ($893) (unchanged).