China: Shagang Steel hikes long steel prices by $7/t for early Sep’24

China’s Shagang Steel has increased prices for rebar, wire rod, and coiled rebar by RMB 50/t ($7/t) for its early Sep’24 sales. Effective prices are as follows:

• Rebar (16-25 mm): RMB 3,500/t ($493/t)
• Wire rod (6-10 mm): RMB 3,420/t ($481/t)
• Coiled rebar (8-10 mm): RMB 3,510/t ($494/t)

All prices are ex-mill, including VAT.