Shagang Group, China’s largest privately-owned steel producer based in Jiangsu of East China, announced on September 11, the start of its latest ten-day sales cycle, to raise its long steel prices by Yuan 200-350/tonne ($31-54/t), just as many other steel mills in the province, on the prospect of lower output while better demand in the coming days, according to market sources.
After having rolled over longs prices over September 11-20, Shagang has raised itsHRB16-25mm rebarby Yuan 350/tto Yuan 5,700/tfor ten days of sales until September 20,