Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for August 1-10. Accordingly, the company has raised its offer prices for HRB400Ф16-20mm rebar by RMB 200/mt ($28/mt) to RMB 3,550/mt ($496.5/mt), while it has increased its offer prices for HRB400Ф8-10mm debar-in-coil by RMB 200/mt ($28/mt) to RMB 3,710/mt ($519/mt). There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the July 21-31 period, the producer had raised its offer prices for HRB400Ф16-20mm rebar and HRB400Ф8-10mm debar-in-coil by RMB 50/mt ($7/mt) to RMB 3,350/mt ($469/mt) and RMB 3,510/mt ($491/mt).
As of July 31, the average rebar price in the Chinese market was standing at RMB 3,333/mt ($466/mt) ex-warehouse, increasing by RMB 86/mt ($12/mt) or 2.65 percent from July 18, according to SteelOrbis’ data.
As of July 31, rebar futures at the Shanghai Futures Exchange were at RMB 3,205/mt ($448/mt), increasing by RMB 58/mt ($8.1/mt) or 1.8 percent since July 18, while down 4.19 percent compared to the previous trading day, July 30.