Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 11-20. Accordingly, the company has kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable at RMB 4,060/mt ($594/mt), RMB 4,100/mt ($599/mt) and RMB 3,900/mt ($570/mt). All prices are on ex-works basis.
The producer had raised its offer prices for high-speed wire rod and bar-in-coil by RMB 50/mt ($7/mt) for September 1-10, while keeping its rebar prices stable for the period.
Rebar prices in the Chinese domestic market have decreased to RMB 3,823/mt ($559/mt) ex-warehouse as of September 10, from RMB 3,833/mt ex-warehouse on August 31, according to SteelOrbis’ data. As of September 10, rebar futures prices at Shanghai Futures Exchange were down RMB 139/mt ($20.4/mt) or 3.7 percent to RMB 3,640/mt ($532/mt) compared to August 31.
$1 = RMB 6.8389