Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for March 1-10. Accordingly, the company has kept its offer prices for rebar, debar-in-coil and high-speed wire rod stable at RMB 3,500/mt (488/mt), RMB 3,610/mt (503.5/mt) and RMB 3,520/mt ($491/mt), respectively. All prices are on ex-works basis.
For the February 21-28 period, the producer had kept its offer prices for rebar, debar-in-coil and high-speed wire rod stable at RMB 3,500/mt (488/mt), RMB 3,610/mt (503.5/mt) and RMB 3,520/mt ($491/mt), respectively.
As of February 28, the average rebar price in the Chinese market was standing at RMB 3,397/mt ($477/mt) ex-warehouse, decreasing by RMB 43/mt ($6/mt) or 1.25 percent from February 21, according to SteelOrbis’ data.
As of February 28, rebar futures at the Shanghai Futures Exchange were at RMB 3,328/mt ($464/mt), decreasing by RMB 33/mt ($4.2/mt) or 1.0 percent since February 21, while increasing by 0.09 percent compared to the previous trading day, February 27.
Prices include 13 percent VAT.
$1 = RMB 7.1745
