Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for August 21-31. Accordingly, the company has held its offer prices for high-speed wire rod, debar-in-coil and rebar stable, standing at RMB 4,510/mt ($661/mt), RMB 4,600/mt ($674.5/mt), and RMB 4,500/mt ($660/mt), respectively. All prices are on ex-works basis.
The producer had held its offer prices for high-speed wire rod, debar-in-coil and rebar stable for the August 11-20 period.
As of August 19, the average rebar price in the Chinese market was standing at RMB 4,157/mt ($613/mt) ex-warehouse, moving down by RMB 43/mt ($6.3/mt) or 1.0 percent from August 10, according to SteelOrbis’ data. As of August 19, rebar futures prices at the Shanghai Future Exchange are standing at RMB 3,929/mt ($576/mt), decreasing by RMB 137/mt ($20.1/mt) or 3.4 percent since August 10.
Prices include 13 percent VAT.
$1 = RMB 6.8198