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Chinese steelmaker Shagang Group announced to lower its rebar prices by RMB40/ton for deliveries in mid-October.
After the adjustment, its ex-work prices for HRB400 rebar with diameters of 14mm-25mm will be at RMB2,000/ton.
In addition, ex-work prices for HPB400 grade wire rods will be RMB2,160/ton, reducing by RMB30/ton from the previous price.
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