Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products. 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 ($493/mt) and RMB 3,560/mt ($509/mt), respectively. All prices are on ex-works basis.
For the January 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 January 20, the average rebar price in the Chinese market was standing at RMB 3,273/mt ($468/mt) ex-warehouse, edging down by RMB 27/mt ($3.9/mt) from January 9, according to SteelOrbis’ data.
As of January 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,111/mt ($444/mt), decreasing by RMB 33/mt ($4.7/mt) or 1.0 percent since January 9, while decreasing by 1.18 percent compared to the previous trading day, January 19.
Prices include 13 percent VAT.
$1 = RMB 7.0014