Chinese steelmaker, Shagang Steel, has revised its long steel prices upwards on 21 Jul’21 for late-Jul sales. Rebar prices have moved up by RMB 250/t, while those for wire rod and coiled rebar by RMB 200/t. All prices are on ex-mill basis, including taxes.
- Rebar (16-25mm) is at RMB 5,550/t ($857)
- Wire rod (6.5mm) is at RMB 5,810/t ($897)
- Coiled rebar (8-10mm) is at RMB 5,800/t ($896)
The company hiked prices following market expectations that China may curb steel production for the rest of 2021.
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