Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for June 21-30. Accordingly, the company has increased its offer prices for rebar by RMB 70/mt ($9.75/mt) to RMB 4,070/mt ($567/mt), while it has raised its prices for high-speed wire rod and debar-in-coil by RMB 100/mt ($13.9) to RMB 4,110/mt ($572/mt) and RMB 4,200/mt ($585/mt). All prices are on ex-works basis.
For the June 11-20 period, the producer had increased its offer prices for rebar by RMB 150/mt ($14.1/mt) to RMB 4,000/mt ($562/mt), while it had raised its prices for high-speed wire rod and debar-in-coil by RMB 100/mt ($28.2) to RMB 4,010/mt ($563/mt) and RMB 4,100/mt ($576/mt), respectively. All prices are on ex-works basis.
As of June 20, the average rebar price in the Chinese market was standing at RMB 3,807/mt ($530/mt) ex-warehouse, moving up by RMB 40/mt ($5.6/mt) or 1.1 percent from June 9, according to SteelOrbis’ data. Rebar futures prices moved up first in June, while they have edged down since June 19, affecting rebar prices in the spot market.
As of June 20, rebar futures prices at the Shanghai Future Exchange were standing at RMB 3,743/mt ($521/mt) ex-warehouse, edging up by RMB 32/mt ($4.5/mt) or 0.86 percent from June 9.
Prices include 13 percent VAT.
$1 = RMB 7.1795