China: Shagang Steel reduces long steel prices for late-Jan’24 sales

China’s Shagang Steel has reduced long steel prices by RMB 50/t ($7/t) for late-Jan’24 sales. Effective prices-

• Rebar (16-25 mm): RMB 4,120/t ($576/t)
• Wire rod (6-10 mm): RMB 4,270/t ($597/t)
• Coiled rebar (8-10 mm): RMB 4,260/t ($596/t)
• All prices are ex-mill, including VAT. Revised prices are effective from 21 Jan’24.