Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 1-10. Accordingly, the company has kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable at RMB 4,710/mt ($716.7/mt), RMB 4,750/mt ($723/mt), and RMB 4,300/mt ($654.5/mt), respectively. All prices are on ex-works basis.
For November 21-30, the producer had raised its offer prices for high-speed wire rod and bar-in-coil by RMB 200/mt and increased its offer prices for rebar by RMB 50/mt, respectively,.
As of November 30, the average rebar price in the Chinese market was standing at RMB 4,117/mt ($625/mt) ex-warehouse, down RMB 90/mt ($14/mt) from November 20, according to SteelOrbis’ data. As of November 30, rebar futures prices at Shanghai Futures Exchange were down by RMB 71/mt ($11/mt) or 1.8 percent to RMB 3,906/mt ($593/mt) compared to November 20.
$1 = RMB 6.5921