Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for January 21-31. Accordingly, the company has kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable, standing at RMB 3,510/mt (488/mt), RMB 3,500/mt (487/mt) and RMB 3,420/mt ($476/mt) ex-works, respectively. All prices are on ex-works basis.
For the January 11-20 period, the producer had cut its offer prices for debar-in-coil, rebar and high-speed wire rod by another RMB 100/mt ($14/mt) to RMB 3,510/mt (488/mt), RMB 3,500/mt (487/mt) and RMB 3,420/mt ($476/mt) ex-works, respectively.
As of January 20, the average rebar price in the Chinese market was standing at RMB 3,417/mt ($477/mt) ex-warehouse, increasing by RMB 77/mt ($10.7/mt) or 2.3 percent from January 11, according to SteelOrbis’ data.
As of January 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,354/mt ($468/mt), increasing by RMB 152/mt ($21/mt) or 4.75 percent since January 11, while increasing by 0.24 percent compared to the previous trading day, January 17.
Prices include 13 percent VAT.
$1 = RMB 7.1696