Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for August 21-31. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable, at RMB 3,870/mt ($537.5/mt) and RMB 4,050/mt ($562.5/mt), respectively. All prices are on ex-works basis.
For the August 11-20 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 100/mt ($14/mt) to RMB 3,870/mt ($541/mt) and RMB 4,050/mt ($566/mt), respectively.
As of August 20, the average rebar price in the Chinese market was standing at RMB 3,757/mt ($522/mt) ex-warehouse, increasing by RMB 7/mt ($1/mt) or 0.19 percent from August 10, according to SteelOrbis’ data.
As of August 20, rebar futures at the Shanghai Futures Exchange were standing at RMB 3,700/mt ($514/mt), rising by RMB 29/mt ($4.0/mt) or 0.8 percent since August 10, while decreasing by 0.11 percent compared to the previous trading day (August 17).
Prices include 13 percent VAT.
$1 = RMB 7.1987