Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for January 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 ($491/mt) and RMB 3,560/mt ($506/mt), respectively. There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the December 21-31 period, the producer had kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable, standing at RMB 3,450/mt ($486/mt) and RMB 3,560/mt ($501/mt), respectively.
As of December 31, the average rebar price in the Chinese market was standing at RMB 3,297/mt ($467/mt) ex-warehouse, edging up by RMB 7/mt ($1/mt) from December 19, according to SteelOrbis’ data.
As of December 31, rebar futures at the Shanghai Futures Exchange were at RMB 3,122/mt ($444/mt), rising by RMB 3/mt ($0.43/mt) or 0.1 percent since December 19, while decreasing by 0.48 percent compared to the previous trading day, December 30.
Prices include 13 percent VAT.
$1 = RMB 7.023