Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for August 1-10. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,510/mt ($668/mt), RMB 4,600/mt ($681/mt), and RMB 4,500/mt ($667/mt), respectively. All prices are on ex-works basis.
The producer had cut its offer prices for high-speed wire rod, debar-in-coil and rebar by RMB 300/mt ($44.4/mt) for the July 21-31 period.
As of July 29, the average rebar price in the Chinese market was standing at RMB 4,113/mt ($609/mt) ex-warehouse, moving up by 153/mt ($23/mt) or 3.9 percent from July 20, according to SteelOrbis’ data. As of July 29, rebar futures prices at the Shanghai Future Exchange were standing at RMB 3,996/mt ($592/mt), increasing by RMB 166/mt ($25/mt) or 4.3 percent since July 20.
Prices include 13 percent VAT.