China’s Shagang cuts long steel prices for late Nov’21 sales

Chinese steelmaker Shagang Steel has cut construction steel prices for late-Nov’21 sales effective from 21 Nov’21. Current prices:

• Rebar 16-25mm: RMB 4,800/t ($752), down RMB 300 ($47)
• Wire rod 6-10mm: RMB 5,060/t ($793), down RMB 200/t ($31)
• Coiled rebar 8-10mm: RMB 5,150/t ($807), down RMB 200 ($31)

All prices are on ex-mill basis, inclusive of VAT.