Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 1-10. Accordingly, the company has raised its offer prices for high-speed wire rod by RMB 100/mt ($15.2/mt), for bar-in-coil by RMB 150/mt ($22.9/mt), and for rebar by RMB 200/mt ($30.5/mt), to RMB 5,060/mt ($771.6/mt), RMB 5,150/mt ($785.3/mt), and RMB 5,050/mt ($770.1/mt), respectively. All prices are on ex-works basis.
The producer had kept its offer prices for high-speed wire rod, bar-in-coil and rebar stable for March 21-31.
As of March 31, the average rebar price in the Chinese market was standing at RMB 4,897/mt ($747/mt) ex-warehouse, up by RMB 180/mt ($27.4/mt) or 3.8 percent from March 19, according to SteelOrbis’ data.
As of March 31, rebar futures prices at Shanghai Futures Exchange had increased by RMB 189/mt ($28.8/mt) or 3.98 percent to RMB 4,935/mt ($752.5/mt), as compared to March 19.
Prices include 13 percent VAT.
$1 = RMB 6.5584