China: Shagang reduces construction steel prices by up to $45/t

China’s Shagang Steel has reduced long steel prices for early-Jul’22 sales. Effective prices:

• Rebar (16-25 mm): RMB 4,800/t ($716/t), down RMB 250/t ($37/t)
• Wire rods (6-10 mm): RMB 4,810/t ($718/t), down RMB 300/t ($45/t)
• Coiled rebar (8-10 mm): RMB 4,900/t ($731/t), down RMB 300/t ($45/t)

All prices are on ex-mill basis, including VAT.