Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 11-20. Accordingly, the company has kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,710/mt (515/mt), RMB 3,700/mt (514/mt) and RMB 3,620/mt ($503/mt) ex-works, respectively. All prices are on ex-works basis.
For the December 1-10 period, the producer had kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,710/mt (516/mt), RMB 3,700/mt (515/mt) and RMB 3,620/mt ($503.5/mt) ex-works, respectively.
As of December 10, the average rebar price in the Chinese market was standing at RMB 3,497/mt ($482.3/mt) ex-warehouse, increasing by RMB 70/mt ($9.7/mt) or 2.0 percent from November 29, according to SteelOrbis’ data.
As of December 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,402/mt ($461.5/mt), increasing by RMB 84/mt or 2.5 percent since November 29, while increasing by 2.5 percent compared to the previous trading day, December 9.
Prices include 13 percent VAT.
$1 = RMB 7.1843
