Shagang cuts longs prices by $21/t for late Nov sales

Shagang Group (Shagang), China's leading private steel producer headquartered in East China's Jiangsu province, is clipping its list prices of rebar, wire rod, and bar-in-coil by Yuan 150/tonne ($20.7/t) for sales over November 21-30, the company announced on Thursday morning. Shagang had rolled over its longs prices for the previous two ten-day sales periods, Mysteel Global notes.

The reduction means that Shagang's HRB400 16-20 mm rebar is now priced at Yuan 3,700/t, while the prices of its HPB300 6-10mm high-speed wire rod and HRB400 8-10mm bar-in-coil drop to Yuan 3,620/t and Yuan 3,710/t respectively for the same period, all in terms of EXW and including the