Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 11-20. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 5,310/mt ($789/mt), RMB 5,400/mt ($803/mt), and RMB 5,350/mt ($795/mt). 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 May 1-10.
As of May 10, the average rebar price in the Chinese market was standing at RMB 4,997/mt ($743/mt) ex-warehouse, moving down by RMB 103/mt ($15.3/mt) or 2.02 percent from April 29, according to SteelOrbis’ data. Rebar futures at the Shanghai Future Exchange are standing at RMB 4,607/mt ($684.5/mt), decreasing by RMB 493/mt ($73.3/mt) or 9.7 percent since April 29.
Prices include 13 percent VAT.