Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 1-10. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 4,120/mt ($580/mt) and RMB 4,260/mt ($600/mt), respectively. All prices are on ex-works basis.
For the January 21-31 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 50/mt ($7.0/mt) to RMB 4,120/mt ($579.5/mt) and RMB 4,260/mt ($599/mt), respectively.
As of January 31, the average rebar price in the Chinese market was standing at RMB 4,007/mt ($564/mt) ex-warehouse, increasing by RMB 30/mt ($4.2/mt) or 0.75 percent from January 19, according to SteelOrbis’ data.
As of January 31, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,869/mt ($545/mt), decreasing by RMB 46/mt ($6.5/mt) or down 1.2 percent since January 19, while declining by 1.95 percent compared to the previous trading day (January 30).
Prices include 13 percent VAT.