Jiangsu Province-based Shagang Group, China's largest private steelmaker, has issued its list prices for all long steel products for early August (August 1-10). Accordingly, the company has kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable, standing at RMB 3,300/mt ($486/mt) and RMB 3,430/mt ($505/mt), respectively. All prices are on ex-works basis.
For the late July (July 21-31) period, the producer had cut its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil by RMB 100/mt ($14.7/mt) to RMB 3,300/mt ($486/mt) and RMB 3,430/mt ($505/mt), respectively.
As of July 31, the average rebar price in the Chinese market was standing at RMB 3,147/mt ($463.5/mt) ex-warehouse, decreasing by RMB 60/mt ($8.8/mt) compared to July 24, according to SteelOrbis' data.
As of July 31, rebar futures at Shanghai Futures Exchange were standing at RMB 3,004/mt ($442/mt), decreasing by RMB 108/mt ($16/mt) or 3.5 percent since July 24, while declining by 0.76 percent compared to the previous trading day, July 30.
Prices include 13 percent VAT.
