Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for August 11-20. 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 ($497/mt) and RMB 3,710/mt ($519/mt), respectively. There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the August 1-10 period, the producer had raised its offer prices for rebar and debar-in-coil by RMB 200/mt ($7/mt) to RMB 3,550/mt ($497/mt) and RMB 3,710/mt ($519/mt).
As of August 8, the average rebar price in the Chinese market was standing at RMB 3,327/mt ($466/mt) ex-warehouse, decreasing by RMB 6/mt ($0.8/mt) or 0.18 percent from July 31, according to SteelOrbis’ data.
As of August 8, rebar futures at the Shanghai Futures Exchange were at RMB 3,213/mt ($450/mt), increasing by RMB 8/mt ($1.1/mt) or 0.25 percent since July 31, while down 0.71 percent compared to the previous trading day, August 7.
Prices include 13 percent VAT.