Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for November 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 ($486/mt) and RMB 3,560/mt ($501/mt), respectively. There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the October 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 October 31, the average rebar price in the Chinese market was standing at RMB 3,230/mt ($455/mt) ex-warehouse, increasing by RMB 77/mt ($11/mt) or 2.4 percent from October 20, according to SteelOrbis’ data.
As of October 31, rebar futures at the Shanghai Futures Exchange were at RMB 3,106/mt ($437.5/mt), rising by RMB 61/mt ($8.6/mt) or 2.0 percent since October 20, while down 0.48 percent compared to the previous trading day, October 30.
Prices include 13 percent VAT.