It's reported that the Chinese Shagang announced to cut its domestic prices for hot rolled coils (HRC) prices by RMB300/ton for June.
After the adjustment, its prices for Q235 HRC with thickness of 5.5mm are at RMB3, 450/ton with 17% VAT.
Also, Shagang reduced its domestic prices for steel plates by RMB200/ton for June, making its prices for Q235 steel plates with thickness of 20mm at RMB3, 650/ton with 17% VAT.