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

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

• Rebar (16-25 mm): RMB 3,970/t ($547/t)
• Wire rod (6-10 mm): RMB 3,920/t ($540/t)
• Coiled rebar (8-10 mm): RMB 4,010/t ($552/t)
• All prices are ex-mill, including VAT.