Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for February 21-29. 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 1-10 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 20, the average rebar price in the Chinese market was standing at RMB 3,983/mt ($561/mt) ex-warehouse, decreasing by RMB 24/mt ($3.4/mt) or 0.6 percent from January 31, according to SteelOrbis’ data.
As of February 20, rebar futures at the Shanghai Futures Exchange are standing at RMB 3,753/mt ($529/mt), decreasing by RMB 116/mt ($16.3/mt) or 3.0 percent since January 31, while declining by 2.14 percent compared to the previous trading day (February 19).
Prices include 13 percent VAT.
$1 = RMB 7.103