Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,300/mt (458/mt) and RMB 3,410/mt (474/mt), respectively. All prices are on ex-works basis.
For the May 1-10 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,300/mt (465/mt) and RMB 3,410/mt (481/mt) ex-works, respectively.
As of May 9, the average rebar price in the Chinese market was standing at RMB 3,233/mt ($449/mt) ex-warehouse, decreasing by RMB 64/mt ($9/mt) or 1.9 percent from April 25, according to SteelOrbis’ data.
As of May 9, rebar futures at the Shanghai Futures Exchange were at RMB 3,022/mt ($420/mt), decreasing by RMB 79/mt ($11/mt) or 2.55 percent since April 25, while down 1.63 percent compared to the previous trading day, May 8.
Prices include 13 percent VAT.