Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for late May (May 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, standing at RMB 3,400/mt ($497/mt) and RMB 3,530/mt ($516/mt), respectively. All prices are on ex-works basis.
For the mid-May (May 11-20) period, the producer had raised its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil by RMB 50/mt ($7.3/mt), to RMB 3,400/mt ($496/mt) and RMB 3,530/mt ($515/mt), respectively.
As of May 20, the average rebar price in the Chinese market was standing at RMB 3,327/mt ($486/mt) ex-warehouse, decreasing by RMB 93/mt ($9/mt) compared to May 11, according to SteelOrbis’ data.
As of May 21, rebar futures at Shanghai Futures Exchange are standing at RMB 3,175/mt ($464/mt), decreasing by RMB 111/mt ($14.0/mt) or 3.4 percent since May 11, while decreasing by 0.44 percent compared to the previous trading day, May 20.
Prices include 13 percent VAT.
