Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 1-10. Accordingly, the company has kept its offer prices for rebar, high-speed wire rod and bar-in-coil stable at RMB 3,850/mt ($545/mt), RMB 3,910/mt ($553/mt) and RMB 3,950/mt ($559/mt), respectively. All prices are on ex-works basis.
The producer had also kept its offer prices for rebar, high-speed wire rod and bar-in-coil stable in the June 21-30 period.
Rebar prices in the Chinese domestic market have moved down gradually, decreasing to RMB 3,710/mt ($525/mt) ex-warehouse as of June 30 from RMB 3,727/mt ex-warehouse on June 19, according to SteelOrbis’ data. As of June 30, rebar futures prices at Shanghai Futures Exchange decreased by RMB 80/mt ($11.3/mt) or 2.2 percent to RMB 3,565/mt ($504/mt), from RMB 3,645/mt recorded on June 19.
$1 = RMB 7.071