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

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

• Rebar (16-25 mm): RMB 3,770/t ($518/t)
• Wire rod (6-10 mm): RMB 3,720/t ($511/t)
• Coiled rebar (8-10 mm): RMB 3,810/t ($524/t)
• All prices are ex-mill, including VAT.