China: Shagang Steel hikes rebar prices by $50/t for early Oct’24

China’s Shagang Steel has announced a price hike for their long steel products for early-Oct’24 sales. Prices of rebars, coiled rebars, and wire rods are up by RMB 350/t ($50/t). Effective prices stood at:

• Rebar (16-25 mm): RMB 3,950/t ($559/t)
• Coiled rebar (8-10 mm): RMB 3,960/t ($561/t)
• Wire rod (6-10 mm): RMB 3,870/t ($548/t)

All prices are ex-mill, including VAT.