It's reported that the Chinese steelmaker Shagang announced to raise the rebar prices by RMB100/ton for deliveries over November 11-20.
Also, this is the first time that Shagang increased rebar prices since early September.
After the adjustment, its prices for HRB400 rebar with diameter of 16-25mm are at RMB3,680/ton, with 17% VAT.
Meanwhile, Shagang remained its prices for HPB300 wire rod flat at RMB3,610/ton for mid-November.