Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 11-20. Accordingly, the company has kept its offer prices for high-speed wire rod and debar-in-coil stable, while it has raised prices for rebar by RMB 50/mt ($8/mt), with prices now at RMB 5,310/mt ($834/mt), RMB 5,400/mt ($848/mt), and RMB 5,350/mt ($840.5/mt), respectively. All prices are on ex-works basis.
For April 1-10, the producer had kept its offer prices for high-speed wire rod and debar-in-coil stable, while it had raised prices for rebar by RMB 100/mt ($15.7/mt).
As of April 8, the average rebar price in the Chinese market was standing at RMB 5,117/mt ($794/mt) ex-warehouse, moving up by RMB 77/mt ($12.1/mt) or 1.53 percent from March 31, according to SteelOrbis’ data. As of April 8, rebar futures contract (rb2205) offers closed at RMB 5,019/mt ($788.5/mt), decreasing by RMB 42/mt ($6.6/mt) or 0.83 percent since March 31.
Prices include 13 percent VAT.
$1 = RMB 6.3645