China’s Shagang Steel has hiked long steel prices by RMB 50/t ($7/t) w-o-w for early-May’24 sales. Notably, the company had previously increased long steel prices for late-Apr’24 sales as well. Effective prices:
- Rebar (16-25 mm): RMB 4,020/t ($557/t)
- Wire rod (6-10 mm): RMB 4,070/t ($564/t)
- Coiled rebar (8-10 mm): RMB 4,060/t ($563/t)
- All prices are ex-mill, including VAT.