Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for October 1-10. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,950/mt ($550/mt) and RMB 4,130/mt ($575/mt), respectively. All prices are on ex-works basis.
For the September 21-30 period, the producer had raised its offer prices for rebar and debar-in-coil by RMB 80/mt ($11.2/mt) to RMB 3,950/mt ($551/mt) and RMB 4,130/mt ($576/mt), respectively.
As of September 28, the average rebar price in the Chinese market was standing at RMB 3,800/mt ($529/mt) ex-warehouse, decreasing by RMB 73/mt ($10.2/mt) or 1.9 percent from September 20, according to SteelOrbis’ data.
As of September 28, rebar futures at the Shanghai Futures Exchange were standing at RMB 3,690/mt ($514/mt), decreasing by RMB 152/mt ($21.2/mt) or 3.96 percent since September 20, while rising by 0.16 percent compared to the previous trading day (September 27).
Prices include 13 percent VAT.