China: Shagang Steel cuts long steel prices by $14/t for early-Jan’25 sales

China’s Shagang Steel has reduced its long steel product prices for early-Jan’25 sales after keeping them stable in late-Dec’24. Prices of rebars, coiled rebars, and wire rods dropped by RMB 100/t ($14/t). Effective prices are as follows:

• Rebar (16-25 mm): RMB 3,600/t ($493/t)
• Coiled rebar (8-10 mm): RMB 3,610/t ($495/t)
• Wire rod (6-10 mm): RMB 3,520/t ($482/t)