Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 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 3,550/mt ($500/mt) and RMB 3,710/mt ($522.5/mt), respectively. There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the August 21-31 period, the producer had kept its offer prices for rebar and debar-in-coil stable, at RMB 3,550/mt ($497/mt) and RMB 3,710/mt ($519/mt).
As of August 29, the average rebar price in the Chinese market was standing at RMB 3,240/mt ($456/mt) ex-warehouse, decreasing by RMB 57/mt ($8/mt) or 1.7 percent from August 18, according to SteelOrbis’ data.
As of August 29, rebar futures at the Shanghai Futures Exchange were at RMB 3,090/mt ($435/mt), decreasing by RMB 65/mt ($9.2/mt) or 2.1 percent since August 18, while down 0.83 percent compared to the previous trading day, August 28.
Prices include 13 percent VAT.
$1 = RMB 7.1072
