Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,350/mt (465/mt) and RMB 3,460/mt (481/mt), respectively. All prices are on ex-works basis.
For the April 1-10 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 3,350/mt (467/mt) and RMB 3,460/mt (483/mt), respectively, ex-works.
As of April 10, the average rebar price in the Chinese market was standing at RMB 3,260/mt ($462/mt) ex-warehouse, decreasing by RMB 53/mt ($7.4/mt) or 1.6 percent from March 31, according to SteelOrbis’ data.
As of April 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,139/mt ($436/mt), decreasing by RMB 20/mt ($2.8/mt) or 0.6 percent since March 31, while increasing by 2.01 percent compared to the previous trading day, April 9.
Prices include 13 percent VAT.