With the new price adjustment, Shagang's HRB400 16-25mm rebar is currently priced at 4,450 Yuan/ton, while the price of HRB400 8-10mm bar coil is set at 4,700 Yuan/t (including 13% VAT). On the other hand, the price of Shagang's HPB300 6-10mm high-speed wire rod remained stable at 4,560 Yuan/ton, according to the statement.
Meanwhile, the national price of HRB400E 20mm rebar, an indicator of the country's domestic steel market dynamics, increased by a total of 80 Yuan/ton from the end of February to 4,387 Yuan/ton, including 13% VAT, the highest level since July 1, 2022.
On the other hand, Shagang, which is also the country's largest electric arc furnace steel producer, has increased the steel scrap supply prices by 80 Yuan/ton since January 11. The purchase price for domestically produced HMS-class scrap currently stands at 3,280-3,340 Yuan/ton, including delivery and 13% VAT, as reported.
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