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 debar-in-coil and rebar stable, at RMB 3,510/mt (494/mt) and RMB 3,500/mt ($493/mt), ex-works, respectively. All prices are on ex-works basis.
For the September 1-10 period, the producer had raised its offer prices for debar-in-coil and rebar by RMB 50/mt ($7/mt) to RMB 3,510/mt ($494/mt) and RMB 3,500/mt ($493/mt) ex-works, respectively.
As of September 10, the average rebar price in the Chinese market was standing at RMB 3,210/mt ($452/mt) ex-warehouse, decreasing by RMB 87/mt ($12.3/mt) or 2.6 percent from August 30, according to SteelOrbis’ data.
As of September 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,080/mt ($434/mt), decreasing by RMB 142/mt ($20/mt) or 4.4 percent since August 30, while increasing by 1.58 percent compared to the previous trading day, September 9.
Prices include 13 percent VAT.
$1 = RMB 7.1182
