Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 1-10. Accordingly, the company has held its offer prices for rebar and debar-in-coil stable at RMB 3,970/mt ($559/mt) and RMB 4,010/mt ($565/mt), respectively. All prices are on ex-works basis.
For the April 21-30 period, the producer had raised its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 3,970/mt ($559/mt) and RMB 4,010/mt ($565/mt), ex-works, respectively.
As of April 30, the average rebar price in the Chinese market was standing at RMB 3,753/mt ($500/mt) ex-warehouse, decreasing by RMB 10/mt ($1.4/mt) or 0.27 percent from April 19, according to SteelOrbis’ data.
As of April 30, rebar futures at the Shanghai Futures Exchange were at RMB 3,656/mt ($515/mt), decreasing by RMB 19/mt ($2.7/mt) or 0.52 percent since April 19, while decreasing by 0.38 percent compared to the previous trading day, April 29.
Prices include 13 percent VAT.
$1 = RMB 7.0994