China’s Shagang hikes long steel prices by up to RMB 200/t for early-Apr

China’s Shagang Steel has raised its construction steel prices for early-Apr sales, effective from today till 10 Apr ’21. The price hike can be attributed to rising semi-finished steel prices and improved demand for construction steel. The revised prices are as follows:

• Rebar (16-25mm) stands at RMB 5,050/t (+RMB 200)
• Wire rod (6-10mm) at RMB 5,060/t (+RMB 100)
• Coiled rebar (8-10mm) at RMB 5,150/t (+RMB 150)

All prices are on ex-mill basis.