Shagang Steel has raised its construction steel prices for early-Mar’21 sales, effective from 01 Mar’21. Rebar (16-25mm) price has been increased by RMB 150 to RMB 4,850/t. Prices for wire rod and coiled rebar has been raised by RMB 100. Wire rod (16-25mm) price stands at RMB 4,960/t and coiled rebar (8-10mm) is at RMB 5,000/t. All prices are on ex-mill basis. Hike in raw material cost along with robust demand has pushed prices up.
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