China: Shagang Steel cuts long steel prices by $14/t for late-Aug’24

China’s Shagang Steel has reduced long steel prices for rebar, wire rod and coiled rebar by RMB 100/t ($14/t) for late-Aug’24 sales. Effective prices:

• Rebar (16-25 mm): RMB 3,450/t ($483/t)
• Wire rod (6-10 mm): RMB 3,370/t ($472/t)
• Coiled rebar (8-10 mm): RMB 3,460/t ($485/t)
• All prices are ex-mill, including VAT.