China: Shagang Steel reduces long steel prices by $14/t for early-July’24

China’s Shagang Steel has reduced long steel prices by RMB 100/t ($14/t) for early-July’24 sales. Effective prices:

• Rebar (16-25 mm): RMB 3,870/t ($532/t)
• Wire rod (6-10 mm): RMB 3,820/t ($526/t)
• Coiled rebar (8-10 mm): RMB 3,910/t ($538/t)
• All prices are ex-mill, including VAT.