Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for January 21-31 and February 1-10 (Chinese New Year holiday: January 31-February 6). Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 5,110/mt ($805/mt), RMB 5,200/mt ($819/mt), and RMB 4,900/mt ($772/mt), respectively. All prices are on ex-works basis.
The producer had also kept its offers for long products stable for the January 11-20 period.
As of January 20, the average rebar price in the Chinese market was standing at RMB 4,793/mt ($755/mt) ex-warehouse, moving up by 40/mt ($6.3/mt) from January 10, according to SteelOrbis’ data. As of January 20, rebar futures contract (rb2205) offers closed at RMB 4,713/mt ($742/mt) at Shanghai Futures Exchange, rising by RMB 221/mt ($35/mt) or 4.9 percent since January 10.
Prices include 13 percent VAT.
$1 = RMB 6.3492