Shagang slashes longs list prices by $7/t for late March sales

Shagang Group (Shagang), China's leading private steelmaker headquartered in Zhangjiagang in East China's Jiangsu province, has cut its list prices of rebar, wire rod, and bar-in-coil by Yuan 50/tonne ($6.9/t) for sales over March 21-31, the company announced on Friday. The latest price adjustment was made immediately following the mill's Yuan 50/t reduction on these longs for the previous ten-day sales period, as reported.

With the latest cuts, Shagang's HRB400 16-20mm rebar is now priced at Yuan 3,400/t, and prices of both HPB300 6-10mm high-speed wire rod and HRB400 8-10mm bar-in-coil have been chopped to Yuan 3,420/t and Yuan 3,510/t respectively for late March sales, all in terms of EXW and including the