Shagang keeps construction steel prices unchanged

China's largest private-sector steel producer Jiangsu Shagang kept all its construction steel prices unchanged for mid-July deliveries.

Shagang's base rebar specification HRB400 with 16-25mm diameter will be offered at 4,170 yuan/t ($607/t) for mid-July deliveries, effective from today.

The company continued to offer rebates to agents on prior sales to compensate for falling prices in secondary markets. Rebar prices have decreased by Yn80/t since July 1 in Shanghai as transactions in major south China markets remain sluggish during the rainy season.

Third-party data showed China's rebar traders' inventories have increased by over 180,000t in the recent two weeks from 24 June to 5 July.

Shagang also maintained its wire rod and small-sized rebar in coil prices for mid-July deliveries.

Shagang listed prices effective from 11 July:

• HRB400 6mm rebar at Yn4,620/t
• HRB400 8-10mm rebar at Yn4,320/t
• HRB400 16-25mm rebar at Yn4,170/t
• HRB400 10mm rebar at Yn4,330/t
• HRB400 12mm rebar at Yn4,270/t
• HRB400 14mm rebar at Yn4,200/t
• HRB400 28-32mm rebar at Yn4,230/t
• HRB400 36mm and 40mm rebar at Yn4,420/t
• HRB500 rebar sizes are Yn350/t higher than HRB400
• HRB500E rebar sizes are Yn380/t higher than HRB400
• HPB300 6.5mm wire rod at Yn4,300/t