Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 1-10. Accordingly, the company has kept its offer prices for rebar stable at RMB 4,070/mt ($565/mt), while it has also kept its prices for high-speed wire rod and debar-in-coil stable at RMB 4,110/mt ($571/mt) and RMB 4,200/mt ($583/mt). All prices are on ex-works basis.
For the June 21-30 period, the producer had increased its offer prices for rebar by RMB 70/mt ($9.75/mt) to RMB 4,070/mt ($567/mt), and had raised its prices for high-speed wire rod and debar-in-coil by RMB 100/mt ($13.9) to RMB 4,110/mt ($572/mt) and RMB 4,200/mt ($585/mt), respectively.
As of June 30, the average rebar price in the Chinese market was standing at RMB 3,790/mt ($526/mt) ex-warehouse, edging down by RMB 17/mt ($2.4/mt) or 0.45 percent from June 20, according to SteelOrbis’ data. Rebar futures prices moved up first in June, while they edged down after June 19, affecting rebar prices in the spot market.
As of June 30, rebar futures prices at the Shanghai Future Exchange were standing at RMB 3,721/mt ($517/mt) ex-warehouse, down by RMB 22/mt ($3.1/mt) or 0.6 percent from June 20.
Prices include 13 percent VAT.
$1 = RMB 7.2046
