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

China’s Shagang Steel has reduced prices of its long steel products by RMB 100/t ($14/t) for late-Oct’24 sales. Notably, the company kept prices stable for mid-Oct’24 sales. Following the latest revision, tags stood at –

• Rebar (16-25 mm): RMB 3,850/t ($541/t)
• Coiled rebar (8-10 mm): RMB 3,860/t ($543/t)
• Wire rod (6-10 mm): RMB 3,770/t ($530/t)
• All prices are ex-mill, including VAT.