Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 21-31. Accordingly, the company has kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,710/mt ($515/mt), RMB 3,700/mt ($514/mt) and RMB 3,620/mt ($503/mt) ex-works, respectively. All prices are on ex-works basis.
For the December 11-20 period, the producer had kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,710/mt (516/mt), RMB 3,700/mt (515/mt) and RMB 3,620/mt ($503.5/mt) ex-works, respectively.
As of December 20, the average rebar price in the Chinese market was standing at RMB 3,420/mt ($476/mt) ex-warehouse, decreasing by RMB 77/mt ($10/mt) or 2.2 percent from December 10, according to SteelOrbis’ data.
As of December 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,279/mt ($456/mt), decreasing by RMB 123/mt ($17/mt) or 3.6 percent since December 10, while decreasing by 0.27 percent compared to the previous trading day, December 19.
Prices include 13 percent VAT.