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 high-speed wire rod and rebar stable at RMB 5,610/mt ($867/mt) and RMB 5,100/mt ($788/mt) respectively, while it has cut its prices for debar-in-coil by RMB 100/mt ($15.5/mt) to RMB 5,600/mt ($866/mt). All prices are on ex-works basis.
The producer had kept its offer prices for high-speed wire rod and debar-in-coil stable and had cut its prices for rebar by RMB 100/mt ($15.5/mt), for June 21-30.
As of June 30, the average rebar price in the Chinese market was standing at RMB 4,883/mt ($755/mt) ex-warehouse, down by RMB 157/mt ($24.2/mt) or 3.1 percent from June 18, according to SteelOrbis’ data. As of June 30, rebar futures prices at Shanghai Futures Exchange increased by RMB 86/mt ($13.3/mt) or 1.7 percent to RMB 5,147/mt ($795.5/mt) compared to June 18.
Prices include 13 percent VAT.