Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 1-10. Accordingly, the company has raised its offer prices for high-speed wire rod, debar-in-coil and rebar by RMB 150/mt ($22/mt), RMB 150/mt ($22/mt) and RMB 200/mt ($30/mt) to RMB 4,560/mt ($675.5/mt), RMB 4,650/mt ($689/mt) and RMB 4,400/mt ($652/mt), respectively. All prices are on ex-works basis.
The producer had raised its offer prices by RMB 50/mt for high-speed wire rod, debar-in-coil and rebar for the January 21-31 period.
As of January 31, the average rebar price in the Chinese market was standing at RMB 4,317/mt ($639.6/mt) ex-warehouse, moving up by 134/mt ($19.9/mt) or 3.2 percent from January 10, according to SteelOrbis’ data. As of January 31, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,143/mt ($614/mt), increasing by RMB 19/mt ($2.8/mt) or 0.46 percent since January 10.
Prices include 13 percent VAT.
$1 = RMB 6.7492
