Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 1-10. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,360/mt ($612/mt), RMB 4,460/mt ($626/mt) and RMB 3,950/mt ($555/mt), respectively. All prices are on ex-works basis.
The producer had previously raised its offer prices for high-speed wire rod, debar-in-coil and rebar by RMB 50/mt ($7/mt) for the November 21-30 period.
As of November 30, the average rebar price in the Chinese market was standing at RMB 3,857/mt ($542/mt) ex-warehouse, edging down by 33/mt ($21/mt) or 0.85 percent from November 18, according to SteelOrbis’ data. As of November 30, rebar futures prices at the Shanghai Future Exchange were standing at RMB 3,748/mt ($526.2/mt), rising by RMB 32/mt ($4.5/mt) or 0.86 percent since November 18.
Prices include 13 percent VAT.
$1 = RMB 7.1225