Jiangsu Province-based Shagang Group, China's largest private steelmaker, has issued its list prices for all long steel products for late July (July 21-31). Accordingly, the company has cut its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil by RMB 100/mt ($14.7/mt) to RMB 3,300/mt ($486/mt) and RMB 3,430/mt ($505/mt), respectively. All prices are on ex-works basis.
For the mid-July (July 11-20) period, the producer had kept its offer prices stable for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil at RMB 3,400/mt ($496/mt) and RMB 3,530/mt ($515/mt), respectively.
As of July 17, the average rebar price in the Chinese market was standing at RMB 3,207/mt ($472/mt) ex-warehouse, increasing by RMB 34/mt ($5.0/mt) compared to July 10, according to SteelOrbis' data.
As of July 17, rebar futures at Shanghai Futures Exchange were standing at RMB 3,112/mt ($458/mt), increasing by RMB 25/mt ($3.7/mt) or 0.8 percent since July 10, while increasing by 0.06 percent compared to the previous trading day, July 16.
Prices include 13 percent VAT.
$1 = RMB 6.7933
