Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for March 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 February 21-29 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 4,120/mt and RMB 4,260/mt, respectively.
As of February 29, the average rebar price in the Chinese market was standing at RMB 3,923/mt ($553/mt) ex-warehouse, rising by RMB 60/mt ($8.5/mt) or 1.5 percent from February 20, according to SteelOrbis’ data.
As of February 29, rebar futures at the Shanghai Futures Exchange were at RMB 3,788/mt ($533.5/mt), increasing by RMB 35/mt ($4.9/mt) or 0.9 percent since February 20, while declining by 0.66 percent compared to the previous trading day, February 28.
Prices include 13 percent VAT.
$1 = RMB 7.1059