Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for January 1-10, 2023. 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 100/mt ($14/mt), with prices now at RMB 4,360/mt ($627/mt), RMB 4,450/mt ($640/mt) and RMB 4,150/mt ($597/mt), respectively. All prices are on ex-works basis.
The producer had kept its offer prices for high-speed wire rod, debar-in-coil and rebar stable for the December 21-31 period.
As of December 30, the average rebar price in the Chinese market was standing at RMB 4,147/mt ($596.7/mt) ex-warehouse, moving up by 90/mt ($12.9/mt) or 2.2 percent from December 20, according to SteelOrbis’ data. As of December 30, rebar futures prices at the Shanghai Future Exchange are standing at RMB 3,939/mt ($566/mt), increasing by RMB 166/mt ($23.9/mt) or 4.2 percent since December 20.
Prices include 13 percent VAT.
$1 = RMB 6.9475
