Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 11-20. Accordingly, the company has raised its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 3,330/mt ($465/mt) and RMB 3,460/mt ($484/mt) respectively. All prices are on ex-works basis.
For the July 1-10 period, the producer had raised its offer prices for rebar by RMB 30/mt ($4.2/mt) to RMB 3,280/mt ($458/mt), while it had kept its offer prices for debar-in-coil stable at RMB 3,410/mt ($481/mt).
As of July 10, the average rebar price in the Chinese market was standing at RMB 3,180/mt ($445/mt) ex-warehouse, increasing by RMB 53/mt ($7.4/mt) or 1.7 percent from June 30, according to SteelOrbis’ data.
As of July 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,123/mt ($437/mt), increasing by RMB 126/mt ($17.6/mt) or 4.2 percent since June 30, while up 1.89 percent compared to the previous trading day, July 9.
Prices include 13 percent VAT.