Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 21-28. 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 11-20 period, the producer had kept its offer prices for rebar stable at RMB 3,500/mt (488/mt), while it raised its offer prices for debar-in-coil and high-speed wire rod by RMB 100/mt ($14/mt) to RMB 3,610/mt (503.5/mt) and RMB 3,520/mt ($491/mt) ex-works, respectively.
As of February 21, the average rebar price in the Chinese market was standing at RMB 3,440/mt ($477/mt) ex-warehouse, increasing by RMB 20/mt ($2.8/mt) or 0.6 percent from February 10, according to SteelOrbis’ data.
As of February 21, rebar futures at the Shanghai Futures Exchange were at RMB 3,361/mt ($469/mt), increasing by RMB 30/mt ($4.2/mt) or 0.9 percent since February 10, while increasing by 0.9 percent compared to the previous trading day, February 20.
Prices include 13 percent VAT.
