Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for September 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 September 11-20 period, the producer had cut its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil by RMB 100/mt ($14/mt) and RMB 150/mt ($21/mt) to RMB 3,450/mt ($486/mt) and RMB 3,560/mt ($501/mt), respectively.
As of September 19, the average rebar price in the Chinese market was standing at RMB 3,233/mt ($455/mt) ex-warehouse, increasing by RMB 23/mt ($3.2/mt) or 0.7 percent from September 10, according to SteelOrbis’ data.
As of September 19, rebar futures at the Shanghai Futures Exchange were at RMB 3,172/mt ($447/mt), increasing by RMB 63/mt ($8.9/mt) or 2.0 percent since September 10, while up 0.73 percent compared to the previous trading day, September 18.
Prices include 13 percent VAT.