Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 1-10. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,920/mt ($552/mt) and RMB 3,960/mt ($558/mt), respectively. All prices are on ex-works basis.
For the March 21-31 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 100/mt ($14/mt) to RMB 3,920/mt ($552/mt) and RMB 3,960/mt ($558/mt), respectively.
As of March 29, the average rebar price in the Chinese market was standing at RMB 3,550/mt ($500/mt) ex-warehouse, decreasing by RMB 97/mt ($14/mt) or 2.7 percent from March 20, according to SteelOrbis’ data.
As of March 29, rebar futures at the Shanghai Futures Exchange were at RMB 3,412/mt ($520/mt), decreasing by RMB 158/mt ($22/mt) or 4.4 percent since March 20, while rising by 1.76 percent compared to the previous trading day, March 28.
Prices include 13 percent VAT.
$1 = RMB 7.0938