Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for October 11-20. Accordingly, the company has kept its offer prices for debar-in-coil and rebar stable at RMB 3,960/mt ($558/mt) and RMB 3,950/mt ($556/mt), ex-works, respectively. All prices are on ex-works basis.
For the October 1-10 period, the producer had raised its offer prices for debar-in-coil and rebar by RMB 350/mt ($49/mt) to RMB 3,960/mt ($558/mt) and RMB 3,950/mt ($556/mt), ex-works, respectively.
As of October 10, the average rebar price in the Chinese market was standing at RMB 3,817/mt ($540/mt) ex-warehouse, increasing by RMB 340/mt ($48/mt) or 9.8 percent from September 30, according to SteelOrbis’ data.
As of October 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,442/mt ($487/mt), decreasing by RMB 109/mt ($15.4/mt) or 3.1 percent since September 30, while decreasing by 1.66 percent compared to the previous trading day, October 9.
Prices include 13 percent VAT.
$1 = RMB 7.0731
