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Shagang up long steel prices further for late Nov sales

Shagang Group, China’s largest rebar producer headquartered in East China’s Jiangsu province, has raised its long steel ex-work prices for the third pricing term over November 21-30, with rebar up another Yuan 50/tonne ($9.1/t) and wire rod and high-speed coil prices up more substantially by Yuan 200/t from the levels over November 11-20.
The latest pricing policy is to stay in line with the spot market and on the support of demand from their sales agencies across China that has remained “comparatively good”, according to a Shagang official from the long steel sales department. Over November 11-20, the HRB400 20mm dia rebar price in East China’s Shanghai increased


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