Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for December 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 4,250/mt ($597/mt) and RMB 4,430/mt ($622/mt), respectively. All prices are on ex-works basis.
For the December 1-10 period, the producer had raised its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 4,250/mt ($599/mt) and RMB 4,430/mt ($624/mt), respectively.
As of December 8, the average rebar price in the Chinese market was standing at RMB 4,083/mt ($566/mt) ex-warehouse, increasing by RMB 66/mt ($9.3/mt) or 1.64 percent from November 30, according to SteelOrbis’ data.
As of December 8, rebar futures at the Shanghai Futures Exchange were standing at RMB 4,042/mt ($568/mt), increasing by RMB 108/mt ($15/mt) or up 2.75 percent since November 30, while increasing by 1.25 percent compared to December 7.
Prices include 13 percent VAT.
$1 = RMB 7.1163
Note: The main rebar futures contract at Shanghai Futures Exchange switched to RB 2405 late last week. The comparison here is based on the same main contract (RB 2405).