Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 21-30. Accordingly, the company has 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. All prices are on ex-works basis.
For the September 11-20 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,870/mt and RMB 4,050/mt, respectively.
As of September 20, the average rebar price in the Chinese market was standing at RMB 3,873/mt ($540/mt) ex-warehouse, up RMB 90/mt ($12/mt) or 2.4 percent from September 10, according to SteelOrbis’ data.
As of September 20, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,8/mt ($536/mt), increasing by RMB 83/mt ($11.6/mt) or up 2.2 percent since September 11, while decreasing by 0.31 percent compared to the previous trading day, September 19.
Prices include 13 percent VAT.