Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for late March (March 21-31). 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 ($500/mt) and RMB 3,560/mt ($516/mt), respectively. All prices are on ex-works basis.
For the mid-March (March 11-20) 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 March 20, the average rebar price in the Chinese market was standing at RMB 3,247/mt ($471/mt) ex-warehouse, increasing by RMB 17/mt ($2.5/mt) compared to March 10, according to SteelOrbis’ data.
As of March 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,123/mt ($453/mt), increasing by RMB 19/mt ($2.8/mt) since March 10, while decreasing by 0.26 percent compared to the previous trading day, March 19.
Prices include 13 percent VAT.
$1 = RMB 6.8943