Jiangsu Province-based Shagang Group, China's largest private steelmaker, has issued its list prices for all long steel products for mid-August (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 3,300/mt ($486/mt) and RMB 3,430/mt ($505/mt), respectively. All prices are on ex-works basis.
For the early August (August 1-10) period, the producer had kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable at RMB 3,300/mt ($486/mt) and RMB 3,430/mt ($505/mt), respectively.
As of August 10, the average rebar price in the Chinese market was standing at RMB 3,140/mt ($463.5/mt) ex-warehouse, increasing by RMB 7/mt ($1.0/mt) compared to July 31, according to SteelOrbis' data.
As of August 10, rebar futures at Shanghai Futures Exchange were standing at RMB 2,997/mt ($441/mt), decreasing by RMB 7/mt ($1.0/mt) or 0.2 percent since July 31, while declining by 0.43 percent compared to the previous trading day, August 7.
Prices include 13 percent VAT.
