It is reported that China Shougang Group has released settlement prices for construction steel in October and then published its ordering prices for November.

October settlement prices have been lowered by CNY 200 per tonne for wire rod and CNY 180 per tonne for rebar versus October ordering prices. Q235Φ6.5mm high speed wire rod price is CNY 3,325 per tonne, HRB335Φ16 mm to 25mm rebar at CNY 3,475 per tonne.

On the basis of Oct settlement prices, the steelmaker has hiked November ordering prices by CNY 100 per tonne for both wire rod and rebar. Q235Φ6.5mm high speed wire rod is quoted at CNY 3,425 per tonne, HRB335Φ16mm to 25mm at CNY 3,575 per tonne.

Prices listed above are inclusive of 17% VAT. October settlement prices are valid for October 1st to October 31st 2009 while November ordering prices will be effective as of November 1st 2009.

(Sourced from MySteel.net)
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