It's reported that the Chinese steelmaker Shagang announced to cut its rebar ex-work prices by RMB30/ton for deliveries in September 11-20 period. Also, this is the first time that the company cuts rebar prices since early June. After adjustment, its prices for HRB400 rebar with diameters of 16mm-25mm are at RMB3, 660/ton, 17% VAT included. Meanwhile, Shagang also reduced its prices for HPB300 wire rods by RMB30/ton to RMB3, 690/ton.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66254&division=A4
