Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for October 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 ($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 21-30 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 10, the average rebar price in the Chinese market was standing at RMB 3,223/mt ($454/mt) ex-warehouse, decreasing by RMB 10/mt ($1.4/mt) or 0.3 percent from September 19, according to SteelOrbis’ data.
As of October 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,103/mt ($447/mt), decreasing by RMB 69/mt ($9.7/mt) or 2.2 percent since September 19, while up 0.52 percent compared to the previous trading day, October 9.
Prices include 13 percent VAT.
$1 = RMB 7.1007
