Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 21-31. Accordingly, the company has raised its offer prices for high-speed wire rod and debar-in-coil by RMB 200/mt ($30.9/mt), while increases its prices for rebar by RMB 250/mt ($38.6/mt), which stood at RMB 5,810/mt ($866/mt), RMB 5,800/mt ($864/mt), and RMB 5,550/mt ($818/mt). All prices are on ex-works basis.
The producer had held its offer prices for high-speed wire rod and debar-in-coil stable, while raising its prices for rebar by RMB 200/mt ($30.9/mt) for July 11-20.
As of July 19, the average rebar price in the Chinese market was standing at RMB 5,323/mt ($821/mt) ex-warehouse, up by RMB 260/mt ($40.1/mt) or 5.1 percent from July 9, according to SteelOrbis’ data. As of July 19, rebar futures prices at Shanghai Futures Exchange increased by RMB 140/mt ($21.6/mt) or 5.5 percent to RMB 5,568/mt ($859/mt) compared to that recorded on July 9.
Prices include 13 percent VAT.
$1 = RMB 6.4835