According to SteelHome survey, long steel price increases significantly in Hangzhou market. HPB300 Φ8-10mm wire rod produced by Zenith Steel is 4170 yuan per tonne. HRB400 Φ16mm rebar produced by Shagang is 3990 yuan per tonne.

It is learned that mainstream offers in Hangzhou market rose this morning. Sellers are eager to raise their price due to the effect of VAT rate adjustment, which will be implemented on April 1. It is estimated that market price for long steel will remain strong in the short run.

Link: Market price of Hangzhou construction steel on Mar 18,19(new)