Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 21-31. Accordingly, the company has raised its offer prices for 16-20 mm HRB400 rebar by RMB 50/mt ($7/mt) to RMB 3,350/mt ($469/mt), while it has increased its offer prices for 8-10 mm HRB400 debar-in-coil by RMB 50/mt ($7/mt) to RMB 3,510/mt ($491/mt). There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the July 11-20 period, the producer had raised its offer prices for rebar by RMB 50/mt ($7/mt), while it had kept its offer prices for debar-in-coil stable at RMB 3,460/mt ($481/mt).
As of July 18, the average rebar price in the Chinese market was standing at RMB 3,247/mt ($454/mt) ex-warehouse, increasing by RMB 67/mt ($9.4/mt) or 2.1 percent from July 10, according to SteelOrbis’ data.
As of July 18, rebar futures at the Shanghai Futures Exchange were at RMB 3,147/mt ($440/mt), increasing by RMB 24/mt ($3.4/mt) or 0.8 percent since July 10, while up 0.74 percent compared to the previous trading day, July 17.
Prices include 13 percent VAT.
