It's reported that the Chinese steelmaker Shagang announced to cut its rebar ex-work prices by RMB50/ton for deliveries during December 21-31.
After the adjustment, Shangang's ex-work prices for HRB400 rebar with diameters of 16mm-24mm are at RMB3,720/ton, 17% VAT included.
Besides, Shagang also reduced its ex-work prices for wire rods with diameter of 8mm by RMB30/ton to RMB3,710/ton, 17% VAT included.