Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 1-10. Accordingly, the company has raised its offer prices for rebar by RMB 30/mt ($4.2/mt) to RMB 3,280/mt ($458/mt), while it has kept its offer prices for debar-in-coil stable RMB 3,410/mt ($481/mt), respectively. All prices are on ex-works basis.
For the June 21-30 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,250/mt (451/mt) and RMB 3,410/mt ($481/mt).
As of June 30, the average rebar price in the Chinese market was standing at RMB 3,127/mt ($437/mt) ex-warehouse, decreasing by RMB 6/mt ($0.8/mt) or 0.19 percent from June 20, according to SteelOrbis’ data.
As of June 30, rebar futures at the Shanghai Futures Exchange were at RMB 2,997/mt ($418.5/mt), increasing by RMB 5/mt ($0.7/mt) or 0.2 percent since June 20, while up 0.23 percent compared to the previous trading day, June 27.
Prices include 13 percent VAT.