Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 1-10.
Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 5,710/mt ($883/mt), RMB 5,700/mt ($881/mt), and RMB 5,350/mt ($827/mt), respectively. All prices are on ex-works basis.
The producer had cut its offer prices for high-speed wire rod, debar-in-coil and rebar by RMB 150/mt ($23.1/mt) for August 21-31.
As of August 30, the average rebar price in the Chinese market was standing at RMB 5,293/mt ($818/mt) ex-warehouse, up by RMB 70/mt ($11.0/mt) or 1.34 percent from August 20, according to SteelOrbis’ data. As of August 30, rebar futures prices at Shanghai Futures Exchange increased by RMB 254/mt ($39.3/mt) or 5.0 percent to RMB 5,354/mt ($828/mt) compared to August 20.
Prices include 13 percent VAT.
$1 = RMB 6.468