Shagang slashes rebar price for mid-June on weak demand

Jiangsu Shagang Group (Shagang), the largest long-steel producer in East China’s Jiangsu province, has slashed its list prices of construction steel products including rebar for sales over June 11-20 after keeping them unchanged since late April, as low seasonal demand this month is pressuring domestic longs prices.

According to the company’s latest pricing policy released on June 11, Shagang has axed its HRB 400 16-25mm dia rebar price by a notable Yuan 180/tonne ($26/t) to Yuan 4,070/t, cut its price for HRB400 8-10mm bar-in-coil by Yuan 130/t to Yuan 4,250/t, and clipped its price for HPB300