Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 1-10. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 5,310/mt ($809/mt), RMB 5,400/mt ($823/mt), and RMB 5,350/mt ($815/mt), respectively, for the given period. All prices are on ex-works basis.
The producer had also kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable for April 21-30.
As of April 29, the average rebar price in the Chinese market was standing at RMB 5,100/mt ex-warehouse, moving down by 77/mt or 1.5 percent from April 20, according to SteelOrbis’ data. As of April 29, rebar futures at the Shanghai Future Exchange were standing at RMB 4,910/mt, decreasing by RMB 54/mt or 1.1 percent since April 22.
Prices include 13 percent VAT.
$1 = RMB 6.5672