Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 21-30. Accordingly, the company has raised its offer prices for debar-in-coil and rebar by RMB 100/mt ($14/mt) to RMB 3,610/mt (509/mt) and RMB 3,600/mt (507/mt), ex-works, respectively. All prices are on ex-works basis.
For the September 11-20 period, the producer had kept its offer prices for debar-in-coil and rebar stable, at RMB 3,510/mt (494/mt) and RMB 3,500/mt (493/mt) ex-works, respectively.
As of September 20, the average rebar price in the Chinese market was standing at RMB 3,340/mt ($470/mt) ex-warehouse, increasing by RMB 130/mt ($18.3/mt) or 4.0 percent from September 10, according to SteelOrbis’ data.
As of September 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,165/mt ($434/mt), increasing by RMB 85/mt ($12/mt) or 2.8 percent since September 10, while decreasing by 0.28 percent compared to the previous trading day, September 19.
Prices include 13 percent VAT.
