Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 11-20. Accordingly, the company has kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable at RMB 4,560/mt ($675.5/mt), RMB 4,650/mt ($689/mt) and RMB 4,400/mt ($652/mt), respectively. All prices are on ex-works basis.
The producer had raised its offer prices by RMB 150/mt ($22/mt), RMB 150/mt ($22/mt) and RMB 200/mt ($30/mt) for high-speed wire rod, debar-in-coil and rebar for the February 1-10 period.
As of February 10, the average rebar price in the Chinese market was standing at RMB 4,233/mt ($639.6/mt) ex-warehouse, moving down by 84/mt ($12.4/mt) or 1.95 percent from January 31, according to SteelOrbis’ data. As of February 10, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,074/mt ($600/mt), decreasing by RMB 69/mt ($10.2/mt) or 1.7 percent since January 31.
Prices include 13 percent VAT.
$1 = RMB 6.8151