Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 21-30. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,310/mt ($620/mt), RMB 4,400/mt ($633/mt) and RMB 4,200/mt ($604.3/mt), respectively. All prices are on ex-works basis.
The producer had cut its offer prices for high-speed wire rod, debar-in-coil and rebar by RMB 200/mt ($29/mt) for the September 11-20 period.
As of September 20, the average rebar price in the Chinese market was standing at RMB 4,073/mt ($595/mt) ex-warehouse, moving down by 24/mt ($3.5/mt) or 0.6 percent from September 9, according to SteelOrbis’ data. As of September 20, rebar futures prices at the Shanghai Future Exchange are standing at RMB 3,659/mt ($526.5/mt), decreasing by RMB 132/mt ($19/mt) or 3.5 percent since September 9.
Prices include 13 percent VAT.