Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,870/mt ($536/mt) and RMB 4,050/mt ($561/mt), respectively. All prices are on ex-works basis.
For the September 1-10 period, the producer had also kept its offer prices for rebar and debar-in-coil stable at RMB 3,870/mt and RMB 4,050/mt, respectively.
As of September 8, the average rebar price in the Chinese market was standing at RMB 3,783/mt ($524/mt) ex-warehouse, decreasing by RMB 7/mt ($1/mt) or 0.18 percent from September 1, according to SteelOrbis’ data.
As of September 8, rebar futures at the Shanghai Futures Exchange are at RMB 3,717/mt ($515/mt), decreasing by RMB 61/mt ($15.6/mt) or down 1.6 percent since September 1, while decreasing by 1.98 percent compared to the previous trading day (September 7).
Prices include 13 percent VAT.
$1 = RMB 7.2148