Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 1-10. 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 ($487.6/mt) and RMB 3,560/mt ($503/mt), respectively. There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the December 1-10 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 December 10, the average rebar price in the Chinese market was standing at RMB 3,290/mt ($465/mt) ex-warehouse, decreasing by RMB 10/mt ($1.4/mt) or 0.3 percent from November 28, according to SteelOrbis’ data.
As of December 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,117/mt ($440/mt), rising by RMB 7/mt ($1/mt) or 0.2 percent since November 28, while up 0.97 percent compared to the previous trading day, December 9.
Prices include 13 percent VAT.