China: Shagang Steel cuts long steel prices by up to RMB 400/t ($63)

China’s Shagang Steel has decreased its construction steel prices for early-June’21 sales, effective from 01 June’21. All prices are on ex-mill basis, inclusive of taxes.

• Rebar (16-25 mm) price is at RMB 5,500/t ($863) (-RMB 350)
• Price of wire rod (6-10mm) is at RMB 5,610/t ($881) (-RMB 400)
• Coiled rebar (8-10 mm) price is at RMB 5,700/t ($895) (-RMB 400).