Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 11-20. Accordingly, the company has kept its offer prices for rebar stable at RMB 3,500/mt (488/mt), while raising its offer prices for debar-in-coil by RMB 100/mt ($14/mt) to RMB 3,610/mt (503.5/mt) ex-works, respectively. All prices are on ex-works basis.
For the February 1-10 period, the producer had 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 February 10, the average rebar price in the Chinese market was standing at RMB 3,420/mt ($477/mt) ex-warehouse, increasing by RMB 7/mt ($1/mt) or 0.2 percent from January 24, according to SteelOrbis’ data.
As of February 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,331/mt ($471/mt), decreasing by RMB 46/mt ($6.4/mt) or 1.4 percent since January 24, while decreasing by 0.89 percent compared to the previous trading day, February 7.
Prices include 13 percent VAT.