Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for June 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,250/mt (451/mt) and RMB 3,410/mt ($481/mt), respectively. All prices are on ex-works basis.
For the June 1-10 period, the producer had cut its offer prices for rebar by RMB 50/mt ($7/mt) to RMB 3,250/mt (451/mt), while it had kept its offer prices for debar-in-coil stable at RMB 3,410/mt ($481/mt).
As of June 10, the average rebar price in the Chinese market was standing at RMB 3,140/mt ($436/mt) ex-warehouse, decreasing by RMB 13/mt ($1.8/mt) or 0.4 percent from May 30, according to SteelOrbis’ data.
As of June 10, rebar futures at the Shanghai Futures Exchange were at RMB 2,974/mt ($413/mt), increasing by RMB 13/mt ($1.8/mt) or 0.4 percent since May 30, while down 0.07 percent compared to the previous trading day, June 9.
Prices include 13 percent VAT.