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Chinese Shagang hikes construction steel prices

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Chinese Shagang announced to raise its ex-factory prices of construction steel by RMB50~RMB100/ton for the middle of April.

The company raised the ex-factory prices of rebar and high-speed wire by RMB50/ton respectively, increased that of coiled reinforced bar by RMB100/ton.

Industry sources indicate that the prices of construction steel may remain flat in the short term since the demand recovers slowly and the inventory declines slowly.

However, it’s been seen that the construction steel market would have good performance in the long term, in light of Shagang’s current price hike, industry sources said.
News Date 13 Apr 2012 09:54:18 reported by Nann Cheng

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