Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for January 21-31 of 2023. Accordingly, the company has raised its offer prices for high-speed wire rod, debar-in-coil and rebar by RMB 50/mt ($7/mt) to RMB 4,410/mt ($650/mt), RMB 4,500/mt ($664/mt) and RMB 4,200/mt ($619.5/mt), respectively. All prices are on ex-works basis.
For the January 1-10 period, the producer had kept its offer prices for high-speed wire rod and debar-in-coil stable, while it had raised prices for rebar by RMB 100/mt ($14/mt).
As of January 10, the average rebar price in the Chinese market was standing at RMB 4,183/mt ($617/mt) ex-warehouse, moving up by 36/mt ($5.3/mt) or 0.87 percent from December 30, according to SteelOrbis’ data. As of January 10, rebar futures prices at the Shanghai Future Exchange are standing at RMB 4,124/mt ($608/mt), increasing by RMB 61/mt ($9/mt) or 1.5 percent since January 3.
Prices include 13 percent VAT.
$1 = RMB 6.7756