Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for October 21-31. 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 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, standing at RMB 3,450/mt ($486/mt) and RMB 3,560/mt ($501/mt), respectively.
As of October 20, the average rebar price in the Chinese market was standing at RMB 3,153/mt ($444/mt) ex-warehouse, decreasing by RMB 70/mt ($10/mt) or 2.2 percent from October 10, according to SteelOrbis’ data.
As of October 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,045/mt ($429/mt), decreasing by RMB 58/mt ($8.2/mt) or 1.9 percent since October 10, while down 0.03 percent compared to the previous trading day, October 17.
Prices include 13 percent VAT.
