Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for mid-February (February 11-20). 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 ($496/mt) and RMB 3,560/mt ($512/mt), respectively. All prices are on ex-works basis.
For the January 21-31 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 February 10, the average rebar price in the Chinese market was standing at RMB 3,230/mt ($465/mt) ex-warehouse, edging down by RMB 23/mt ($3.3/mt) from January 30, according to SteelOrbis’ data.
As of February 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,052/mt ($439/mt), decreasing by RMB 76/mt ($11/mt) or 2.4 percent since January 30, while decreasing by 0.55 percent compared to the previous trading day, February 9.
Prices include 13 percent VAT.
$1 = RMB 6.9438