The Chinese steelmaker Shagang announced to cut ex-works rebars prices by RMB250/ton for the period during June 1st through June 10th.
After the adjustment, the prices for HRB355 and HRB400 rebar with diameter 16mm-25mmn are at RMB3, 360/ton and RMB3, 410/ton respectively.
Besides, the company also cut its prices for HPB300 wire rods by RMB250/ton to RMB3, 450/ton.