Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 11-20. Accordingly, the company has kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable at RMB 4,710/mt ($720/mt), RMB 4,750/mt ($726/mt), and RMB 4,300/mt ($657.5/mt), respectively. All prices are on ex-works basis.
The producer had also held its offer prices for high-speed wire rod, bar-in-coil and rebar stable for December 1-10.
As of December 10, the average rebar price in the Chinese market was standing at RMB 4,123/mt ($630/mt) ex-warehouse, edging up by RMB 36/mt ($5.5/mt) from December 1, according to SteelOrbis’ data. As of December 10, rebar futures prices at Shanghai Futures Exchange were up by RMB 134/mt ($20.5/mt) or 3.4 percent to RMB 4,040/mt ($618/mt) compared to November 30.
$1 = RMB 6.5405