Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for late February (February 21-28). 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 ($497/mt) and RMB 3,560/mt ($513/mt), respectively. All prices are on ex-works basis.
For the mid-February (February 11-20) 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 February 13, the average rebar price in the Chinese market was standing at RMB 3,230/mt ($465/mt) ex-warehouse, moving sideways compared to February 10, according to SteelOrbis’ data.
As of February 13, rebar futures at the Shanghai Futures Exchange were at RMB 3,055/mt ($440/mt), increasing by RMB 3/mt ($0.4/mt) since February 10, while rising by 0.13 percent compared to the previous trading day, February 12.
Prices include 13 percent VAT.
$1 = RMB 6.9414
