Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for November 1-10. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,850/mt ($536/mt) and RMB 4,030/mt ($561/mt), respectively. All prices are on ex-works basis.
For the October 21-31 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 100/mt ($14/mt) to RMB 3,850/mt ($536/mt) and RMB 4,030/mt ($561/mt), respectively.
As of October 31, the average rebar price in the Chinese market was standing at RMB 3,837/mt ($534/mt) ex-warehouse, increasing by RMB 84/mt ($11.7/mt) or 2.2 percent from October 20, according to SteelOrbis’ data.
As of October 31, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,733/mt ($520/mt), increasing by RMB 123/mt ($17.1/mt) or up 3.4 percent since October 20, while increasing by 0.21 percent compared to the previous trading day, October 30.
Prices include 13 percent VAT.
$1 = RMB 7.1778