China’s Shagang cuts long steel prices for early January

Date: Jan 2, 2019

Eastern China domestic rebar yuan per tonne ex-warehouse

28/12/183780.00     –
Monthly Averages
Dec 183828.00-1.25%
Nov 184249.32-11.04%
Oct 184601.94-17.86%

The mill is selling its HRB400 16-25mm rebar at 3,880 yuan ($564) per tonne over the January 1-10 period, down 140 yuan per tonne from its last set of prices, it said on Tuesday January 1. 
Shagang also cut its HPB300 wire rod prices by 100 yuan per tonne to 3,980 yuan per tonne for the same period. 

Both prices are on an ex-works basis, including value-added tax. 

Spot rebar prices moved down in late December amid inactive trading, and rebar inventories at mills increased. Participants thought the above two factors were the main reasons for the mill to cut its list prices. 

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