Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for October 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,950/mt ($550/mt) and RMB 4,130/mt ($575/mt), respectively. All prices are on ex-works basis.
For the October 1-10 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,950/mt ($551/mt) and RMB 4,130/mt ($576/mt), respectively.
As of October 10, the average rebar price in the Chinese market was standing at RMB 3,740/mt ($521/mt) ex-warehouse, decreasing by RMB 60/mt ($8.4/mt) or 1.6 percent from September 28, according to SteelOrbis’ data.
As of October 10, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,610/mt ($503/mt), decreasing by RMB 80/mt ($11.1/mt) or down 2.2 percent since September 20, while decreasing by 0.88 percent compared to the previous trading day (October 9).
Prices include 13 percent VAT.
$1 = RMB 7.1779