Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for November 21-30. 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 November 11-20 period, the producer had 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 November 20, the average rebar price in the Chinese market was standing at RMB 3,257/mt ($459/mt) ex-warehouse, increasing by RMB 57/mt ($8.0/mt) or 1.8 percent from November 10, according to SteelOrbis’ data.
As of November 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,050/mt ($430/mt), rising by RMB 6/mt ($0.8/mt) or 0.2 percent since November 10, while down 1.01 percent compared to the previous trading day, November 19.
Prices include 13 percent VAT.
$1 = RMB 7.0875