Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 21-31. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 4,020/mt ($566/mt) and RMB 4,060/mt ($572/mt), respectively. All prices are on ex-works basis.
For the May 11-20 period, the producer had raised its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 4,020/mt ($566/mt) and RMB 4,060/mt ($572/mt), ex-works, respectively.
As of May 20, the average rebar price in the Chinese market was standing at RMB 3,783/mt ($533/mt) ex-warehouse, increasing by RMB 56/mt ($8/mt) or 1.5 percent from May 10, according to SteelOrbis’ data.
As of May 20, rebar futures at the Shanghai Futures Exchange were at RMB 3,735/mt ($526/mt), increasing by RMB 79/mt ($11.1/mt) or 2.2 percent since May 10, while increasing by 0.67 percent compared to the previous trading day, May 17.
Prices include 13 percent VAT.