Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 21-31. Accordingly, the company has kept its offer prices for rebar, high-speed wire rod and bar-in-coil stable at RMB 3,850/mt ($551.1/mt), RMB 3,910/mt ($559.7/mt) and RMB 3,950/mt ($565.4/mt), respectively. All prices are on ex-works basis.
The producer had kept its offer prices for rebar, high-speed wire rod and bar-in-coil stable in the July 11-20 period.
As of July 20, rebar prices in the Chinese domestic market have increased to RMB 3,780/mt ($541.1/mt) ex-warehouse, from RMB 3,777/mt ex-warehouse on July 10, according to SteelOrbis’ data. As of July 20, rebar futures prices at Shanghai Futures Exchange have increased by RMB 11/mt ($1.6/mt) or 0.3 percent to RMB 3,701/mt ($529.8/mt), compared to July 10.
$1 = RMB 6.9862