Two major Jiangsu based longs makers announced lower prices for late August, while the biggest Chinese producer based in the same province prolonged its offers after recent improvement in the sales.On August 21, Yonggang Group and Zenith Steel Group claimed they will drop their wire rod and rebar domestic prices by RMB 100/t ($14/t): to RMB 4,130/t ($586/t) EXW and RMB 3,870/t ($549/t) EXW, respectively. Hereinafter prices are given including 13% VAT. The decline is mainly attributed to slumping raw material quotes in China, which let mills make their prices more competitive. In particular, import iron ore quotes dipped by $6/t over the last ten day period, when mills announced same offers. Meanwhile, iron ore has fallen by $20/t since August 1.
展开▼
