Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for early March (March 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 at RMB 3,450/mt ($499/mt) and RMB 3,560/mt ($514/mt), respectively. All prices are on ex-works basis.
For the late February (February 21-28) period, the producer had also kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable at RMB 3,450/mt ($495/mt) and RMB 3,560/mt ($511/mt), respectively.
As of February 27, the average rebar price in the Chinese market was standing at RMB 3,217/mt ($465/mt) ex-warehouse, decreasing by RMB 13/mt ($1.9/mt) compared to February 13, according to SteelOrbis’ data.
As of February 27, rebar futures at the Shanghai Futures Exchange were at RMB 3,067/mt ($443/mt), increasing by RMB 12/mt ($1.7/mt) since February 13, while rising by 0.03 percent compared to the previous trading day, February 26.
Prices include 13 percent VAT.
