Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 1-10. Accordingly, the company has kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,510/mt (488/mt), RMB 3,500/mt (487/mt) and RMB 3,420/mt ($476/mt) ex-works, respectively. All prices are on ex-works basis.
For the January 21-31 period, the producer had also kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,510/mt (488/mt), RMB 3,500/mt (487/mt) and RMB 3,420/mt ($476/mt) ex-works, respectively.
As of January 24, the average rebar price in the Chinese market was standing at RMB 3,413/mt ($476/mt) ex-warehouse, decreasing by RMB 4/mt ($0.56/mt) or 0.12 percent from January 20, according to SteelOrbis’ data.
As of January 24, rebar futures at the Shanghai Futures Exchange were at RMB 3,377/mt ($471/mt), increasing by RMB 23/mt ($3.2/mt) or 0.7 percent since January 20, while increasing by 0.63 percent compared to the previous trading day, January 23.
Prices include 13 percent VAT.
