Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 21-30. Accordingly, the company has cut its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 3,300/mt (458/mt) and RMB 3,410/mt (474/mt), respectively. All prices are on ex-works basis.
For the April 11-20 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,350/mt (465/mt) and RMB 3,460/mt (481/mt) ex-works, respectively.
As of April 18, the average rebar price in the Chinese market was standing at RMB 3,227/mt ($448/mt) ex-warehouse, decreasing by RMB 33/mt ($4.6/mt) or 1.0 percent from April 10, according to SteelOrbis’ data.
As of April 18, rebar futures at the Shanghai Futures Exchange were at RMB 3,076/mt ($427/mt), decreasing by RMB 63/mt ($8.8/mt) or 2.0 percent since April 10, while down 0.81 percent compared to the previous trading day, April 17.
Prices include 13 percent VAT.