Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 1-10. Accordingly, the company has kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable at RMB 4,860/mt ($752/mt), RMB 4,900/mt ($759/mt), and RMB 4,700/mt ($728/mt), respectively. All prices are on ex-works basis.
The producer had also kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable for January 21-31.
As of January 29, the average rebar price in the Chinese market was standing at RMB 4,357/mt ($674.5/mt) ex-warehouse, edging up by RMB 34/mt ($5.3/mt) from January 20, according to SteelOrbis’ data. As of January 29, rebar futures prices at Shanghai Futures Exchange decreased by RMB 43/mt ($6.7/mt) or 1.0 percent to RMB 4,267/mt ($660.5/mt) compared to January 20.
Prices include 13 percent VAT.
$1 = RMB 6.4623