China's Shagang Steel Hikes Construction Steel Price by RMB 50/MT for end May

Shagang Group revised its ex-mill price of construction steels for the remaining days of May. This price is based on the "prices guidance for the median May period issued on May 21". The detailed prices are as following:

1. Rebar prices moved up RMB 50/MT. HRB400 16-25mm is at RMB 3,750/MT, o10mm, o12mm, o 14mm, o 28-32mm, o 36/o 40mm are added with premium of RMB 160/MT, RMB 100/MT, RMB 30/MT, RMB 60/MT, RMB 250/MT respectively.

2. Wire rod price is up RMB 50/MT. HPB300 o6-10mm plain carbon wire rod is at RMB 3,810/MT

3. Coiled rebar price witnessed an uptick by RMB 50/MT and the price of HRB 400 o 8-10mm is at RMB 3,850/MT; HRB400 o6mm added with premium RMB 300/MT, and anti-seism coiled rebar added with premium RMB 30/MT.

All above rates are on ex-mill basis and tax inclusive and will come into effect from today (21 May'20).

Domestic rebar prices in China are seen at close to 3.5 month high levels, however trades have softened after price surge.