Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 21-28. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,560/mt ($665/mt), RMB 4,650/mt ($678/mt) and RMB 4,400/mt ($641/mt), respectively. All prices are on ex-works basis.
The producer had also kept its offer prices stable for high-speed wire rod, debar-in-coil and rebar for the February 11-20 period.
As of February 20, the average rebar price in the Chinese market was standing at RMB 4,290/mt ($625.4/mt) ex-warehouse, moving up by 57/mt ($8.3/mt) or 1.3 percent from February 10, according to SteelOrbis’ data.
As of February 20, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,184/mt ($610/mt), increasing by RMB 110/mt ($16/mt) or 2.7 percent since February 10.
Prices include 13 percent VAT.
$1 = RMB 6.8557
