China: Shagang Steel cuts long steel prices by $7/t for late-Mar’25 sales

China’s Shagang Steel has reduced its long steel product prices for late-Mar’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 3,400/t ($469/t)
• Coiled rebars (8-10 mm): RMB 3,510/t ($484/t)
• Wire rods (6-10 mm): RMB 3,420/t ($472/t)