Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 21-28. 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 and include 13 percent VAT.
The producer had also kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable for both early February and mid-February.
As of February 19, the average rebar price in the Chinese market was standing at RMB 4,557/mt ($706/mt) ex-warehouse, up by RMB 204/mt ($32/mt) or 4.7 percent from February 10, according to SteelOrbis’ data.
$1 = RMB 6.4563