Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for March 1-10. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,560/mt ($657/mt), RMB 4,650/mt ($670/mt) and RMB 4,400/mt ($634/mt), respectively. All prices are on ex-works basis.
The producer had kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable for the February 21-28 period.
As of February 28, the average rebar price in the Chinese market was standing at RMB 4,303/mt ($620/mt) ex-warehouse, moving down by 24/mt ($3.5/mt) or 0.55 percent from February 21, according to SteelOrbis’ data.
As of February 28, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,174/mt ($610/mt), decreasing by RMB 80/mt ($11.5/mt) or 1.9 percent since February 21.
Prices include 13 percent VAT.
