Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 1-10. Accordingly, the company has kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable, at RMB 3,710/mt (515/mt), RMB 3,700/mt (514/mt) and RMB 3,620/mt ($503/mt) ex-works, respectively. All prices are on ex-works basis.
For the November 21-30 period, the producer had cut its offer prices for debar-in-coil, rebar and high-speed wire rod by RMB 150/mt ($21/mt) to RMB 3,710/mt (516/mt), RMB 3,700/mt (515/mt) and RMB 3,620/mt ($503.5/mt) ex-works, respectively.
As of November 29, the average rebar price in the Chinese market was standing at RMB 3,427/mt ($476/mt) ex-warehouse, decreasing by RMB 16/mt ($2.2/mt) or 0.5 percent from November 20, according to SteelOrbis’ data.
As of November 29, rebar futures at the Shanghai Futures Exchange were at RMB 3,318/mt ($461.5/mt), decreasing by just RMB 1/mt or almost stable since November 20, while increasing by 0.48 percent compared to the previous trading day, November 28.
Prices include 13 percent VAT.