It's reported that the Chinese steelmaker Shagang announced to cut domestic prices for hot rolled coils by RMB200/ton for October.
Also, the company reduced its domestic prices for steel plates by RMB150/ton for October.
After the adjustment, the company's list prices for Q235 HRC with thickness of 5.5mm are at RMB3,550/ton; those for SPHC HRC with thickness of 3.0mm are at RMB3,600/ton, including 17% VAT.
The new prices have become effective from October 1st.