Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for mid-March (March 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 3,450/mt ($500/mt) and RMB 3,560/mt ($516/mt), respectively. All prices are on ex-works basis.
For the early March (March 1-10) 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 10, the average rebar price in the Chinese market was standing at RMB 3,230/mt ($468/mt) ex-warehouse, increasing by RMB 13/mt ($1.9/mt) compared to February 27, according to SteelOrbis’ data.
As of March 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,104/mt ($450/mt), increasing by RMB 37/mt ($5.4/mt) since February 27, while decreasing by 0.42 percent compared to the previous trading day, March 9.
Prices include 13 percent VAT.
$1 = RMB 6.8917
