Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for August 11-20. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,510/mt ($670/mt), RMB 4,600/mt ($683.5/mt), and RMB 4,500/mt ($669/mt), respectively. All prices are on ex-works basis.
The producer had kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable for the August 1-10 period.
As of August 10, the average rebar price in the Chinese market was standing at RMB 4,200/mt ($624/mt) ex-warehouse, moving up by 87/mt ($13/mt) or 2.1 percent from July 29, according to SteelOrbis’ data. As of August 10, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,066/mt ($604/mt), increasing by RMB 70/mt ($10.4/mt) or 1.75 percent since July 29.
Prices include 13 percent VAT.
$1 = RMB 6.7324