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

China’s Shagang Steel has reduced its long steel product prices for mid-Mar’25 sales after keeping them stable in early-Mar’25. Prices of rebars, coiled rebars, and wire rods have been reduced by RMB 50/t ($7/t). Effective prices are as follows:

• Rebars (16-25 mm): RMB 3,450/t ($476/t)
• Coiled rebars (8-10 mm): RMB 3,560/t ($492/t)
• Wire rods (6-10 mm): RMB 3,470/t ($479/t)