Shagang Group raises local longs prices by $7-15/mt for early Nov

Monday, 02 November 2020 12:25:31 (GMT+3)   |   Shanghai
       

Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for November 1-10. Accordingly, the company has raised its offer prices for high-speed wire rod and bar-in-coil by RMB 100/mt ($14.9/mt), to RMB 4,210/mt ($628/mt) and RMB 4,250/mt ($634/mt), respectively, while it has increased its offer prices for rebar by RMB 50/mt ($7.45/mt) to RMB 3,950/mt ($589/mt). All prices are on ex-works basis.

For the October 21-31 period, the producer had raised its offer prices for high-speed wire rod and bar-in-coil by RMB 50/mt, and kept its prices for rebar stable.

As of October 30, the average rebar price in the Chinese market was standing at RMB 3,897/mt ($581.2/mt) ex-warehouse, edging up by RMB 54/mt ($8.1/mt) from October 20, according to SteelOrbis’ data. As of October 30, rebar futures prices at Shanghai Futures Exchange increased by RMB 86/mt ($12.8/mt) or 2.4 percent to RMB 3,702/mt ($552/mt) compared to October 20.

$1 = RMB 6.705


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Local Chinese longs prices up $7-8/mt amid improved demand

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Lebanese rebar market quiet while import prices drop

22 Mar | Longs and Billet

Iskenderun-based Turkish mill cuts longs prices as week ends

22 Mar | Longs and Billet

Partial stability in southern European longs market, Easter closures expected

22 Mar | Longs and Billet

Romanian longs prices stable amid ongoing optimism for demand

21 Mar | Longs and Billet