Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for early February (February 1-10). Accordingly, the company has kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable at RMB 3,450/mt ($495/mt) and RMB 3,560/mt ($511/mt), respectively. All prices are on ex-works basis.
For the January 21-31 period, the producer had also kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable at RMB 3,450/mt ($486/mt) and RMB 3,560/mt ($501/mt), respectively.
As of January 31, the average rebar price in the Chinese market was standing at RMB 3,253/mt ($467/mt) ex-warehouse, edging down by RMB 20/mt ($2.8/mt) from January 20, according to SteelOrbis’ data.
As of January 30, rebar futures at the Shanghai Futures Exchange were at RMB 3,128/mt ($449/mt), increasing by RMB 17/mt ($2.4/mt) or 0.55 percent since January 20, while decreasing by 0.48 percent compared to the previous trading day, January 29.
Prices include 13 percent VAT.