Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 21-30. Accordingly, the company has kept its offer prices for high-speed wire rod and bar-in-coil stable at RMB 4,710/mt ($719.1/mt) and RMB 4,750/mt ($725.2/mt), while it has raised its prices for rebar by RMB 200/mt ($30.5/mt) to RMB 4,500/mt ($687/mt). All prices are on ex-works basis.
The producer had kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable, respectively, for December 11-20.
As of December 18, the average rebar price in the Chinese market was standing at RMB 4,310/mt ($658/mt) ex-warehouse, edging up by RMB 123/mt ($18.8/mt) from December 11, according to SteelOrbis’ data. As of December 18, rebar futures prices at Shanghai Futures Exchange increased by RMB 283/mt ($43/mt) or 7.02 percent to RMB 4,316/mt ($659/mt) compared to December 11.
$1 = RMB 6.5507