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 held its offer prices for high-speed wire rod, bar-in-coil and rebar stable at RMB 4,070/mt ($574.5/mt), RMB 4,110/mt ($580.2/mt) and RMB 3,820/mt ($539.2/mt), respectively. All prices are on ex-works basis.
The producer had increased its prices for high-speed wire rod, bar-in-coil and rebar by RMB 100/mt ($14/mt) in the previous period, September 11-20.
Taking into account the recent downtrend in rebar and wire rod prices amid the bearish sentiment prevailing in spot market recently, Shagang Group’s price policy has been a positive signal for the market trend during the remaining part of September.