China: Shagang Steel cuts long steel prices by $21/t for early-Aug’24

China’s Shagang Steel has reduced long steel prices by RMB 150/t ($21/t) for early-Aug’24 sales. Effective prices:

• Rebar (16-25 mm): RMB 3,620/t ($500/t)
• Wire rod (6-10 mm): RMB 3,570/t ($493/t)
• Coiled rebar (8-10 mm): RMB 3,660/t ($505/t)
• All prices are ex-mill, including VAT.