China: Shagang reduces long steel prices by $7/t for early-Apr’25 sales

China’s Shagang Steel has reduced its long steel product prices for early-Apr’25 sales. Prices of rebars, coiled rebars, and wire rods were reduced by RMB 50/t ($7/t). Effective prices are as follows:

• Rebars (16-25 mm): RMB 3,350/t ($461/t)
• Coiled rebars (8-10 mm): RMB 3,460/t ($476/t)
• Wire rods (6-10 mm): RMB 3,370/t ($464/t)