Shagang Group cuts local HRC prices by $35/mt for August

Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil for August this year.

Accordingly, the company has cut its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 250/mt ($35/mt) to RMB 3,700/mt ($519/mt) ex-works.

In June, the producer had cut its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 150/mt ($21/mt) to RMB 3,950/mt ($555/mt) ex-works.