Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for March 21-31. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,560/mt ($663/mt), RMB 4,700/mt ($683/mt) and RMB 4,450/mt ($647/mt), respectively. All prices are on ex-works basis.
For the March 11-20 period, the producer had kept its offer prices stable for high-speed wire rod, while it had raised its debar-in-coil and rebar prices by RMB 50/mt ($7/mt).
As of March 20, the average rebar price in the Chinese market was standing at RMB 4,310/mt ($626/mt) ex-warehouse, moving down by 47/mt ($6.8/mt) or 1.1 percent from March 10, according to SteelOrbis’ data. As of March 20, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,194/mt ($610/mt), moving down by 120 RMB/mt ($17.4/mt) or 2.8 percent from March 10,
Prices include 13 percent VAT.
$1 = RMB 6.8763
