Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for November 11-20. Accordingly, the company has kept its offer prices for rebar, debar-in-coil and high-speed wire rod stable at RMB 3,850/mt (536/mt), RMB 3,860/mt (538/mt) and RMB 3,770/mt ($525/mt) ex-works, respectively. All prices are on ex-works basis.
For the November 1-10 period, the producer had kept its offer prices for debar-in-coil, rebar and high-speed wire rod stable at RMB 3,860/mt (544/mt), RMB 3,850/mt (542/mt) and RMB 3,770/mt ($531/mt) ex-works, respectively.
As of November 11, the average rebar price in the Chinese market was standing at RMB 3,500/mt ($487.5/mt) ex-warehouse, decreasing by RMB 107/mt ($15.0/mt) or 3.0 percent from October 31, according to SteelOrbis’ data.
As of November 11, rebar futures at the Shanghai Futures Exchange were at RMB 3,331/mt ($481/mt), decreasing by RMB 96/mt ($13.4/mt) or 2.8 percent since October 31, while decreasing by 2.35 percent compared to the previous trading day, November 8.
Prices include 13 percent VAT.
$1 = RMB 7.1786
