Shagang announces steel price policy for mid August based on early August 2012 price policy.

I High speed wire rod: down CNY 120 per tonne
Now Φ6.5mm HPB235 wire rod ex-works price hit CNY3630 per tonne.
II Rebar: unchanged

After adjustment, 16mm to 25mm HRB335 rebar is priced at CNY3680 per tonne and 16-25mmHRB400 rebar at CNY3800 per tonne ( 10mm has a price markup of CNY60 per tonne, 12mm wins CNY20 per tonne, 28mm and 32mm obtains CNY50 per tonne while 36-40mm acquires CNY250 per tonne. E grade earthquake proof rebar has another price markup of CNY30 per tonne).

III Coiled rebar: down CNY 150 per tonne
Now ? 8mm HRB400 coiled rebar ex-works price attains CNY3750 per tonne.

All the prices above include VAT and take effect from August 11 2012.

Source: www.steelhome.cn/en
China steel information centre and industry database

(www.steelguru.com)