China’s Hebei Group keeps cutting domestic prices for longs, unlike Shagang

摘要

China’s Hebei Group is reported to make substantial cuts in local prices amid a price drop for raw materials and feedstock and low buying activity. However, another Chinese producer – Shagang Group – has made no price changes. Over the past ten days, Hebei Group has announced a cut in its rebar and wire rod prices by an equivalent of $29-35/t, currency rate fluctuations taken into account (RMB 190-220/t). Zenith Group, located in north-eastern China, has also trimmed prices. However, the size of its reduction was far not so big.