Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 21-31. Accordingly, the company has kept its offer prices for rebar, high-speed wire rod and debar-in-coil stable at RMB 3,300/mt (458/mt), RMB 3,320/mt (461/mt) and RMB 3,410/mt (474/mt), respectively. All prices are on ex-works basis.
For the May 11-20 period, the producer had kept its offer prices for rebar, high-speed wire rod and debar-in-coil stable at RMB 3,300/mt (465/mt), RMB 3,320/mt (461/mt) and RMB 3,410/mt (481/mt) ex-works, respectively.
As of May 20, the average rebar price in the Chinese market was standing at RMB 3,243/mt ($450/mt) ex-warehouse, increasing by RMB 10/mt ($1.4/mt) or 0.3 percent from May 9, according to SteelOrbis’ data.
As of May 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,058/mt ($425/mt), increasing by RMB 36/mt ($5/mt) or 1.2 percent since May 9, while down 0.59 percent compared to the previous trading day, May 19.
Prices include 13 percent VAT.