China: Shagang Steel Rolls Over Construction Steel Price for Mid-May'20

Shagang Group has rolled over its ex-mill price of construction steels for the remaining days of May'20. The detailed prices are as following:

-- Prices for rebar, coiled rebar and wire rod remain unchanged, Rebar prices remain flat. HRB400 16-25mm is at RMB 3,700/MT. HRB500 and HRB500E will be added at a premium of RMB300/ton and RMB330/ton respectively from the level of HRB400.

-- Wire rod price is flat. HPB300 6-10mm general carbon wire rod is at RMB 3,760/MT

-- Coiled rebar price is flat and the price of HRB400 8-10mm is at RMB 3,800/MT

Above prices are tax inclusive and have come into effect from today (i.e. 11 May'20).

As per sources, for agents that met pre-arranged order quantity, subsidies will be allocated at RMB80/MT for rebar, RMB100/MT for coiled rebar and RMB100/MT for wire rod.

Shagang group has annual steel production capacity of more than 40 MnT is ranked 6th globally in 2018 with an output of 40.66 MnT. In 2019 its output of steel stood at 41 MnT, up 1% Y-o-Y.