Shagang cuts list prices for steel longs for late-July sales

Shagang Group (Shagang), China's leading privately-owned steel firm and the country's largest electric-arc-furnace steelmaker, has decided to reduce its long-product list prices by Yuan 100/tonne ($14.7/t) for sales over July 21-31 from this month's middle ten days, according to the company's latest announcement on July 21.

The Zhangjiagang-based steel group updates its list prices for long products such as rebars three times a month to better reflect market dynamics, as reported. With its latest pricing policy, the price of Shagang's HRB400 16-20mm rebar is now Yuan 3,300/t, that for its HPB300 6-10mm wire rod is Yuan