Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 21-30. Accordingly, the company has raised its offer prices for rebar and debar-in-coil to RMB 3,970/mt ($552/mt) and RMB 4,010/mt ($558/mt), respectively. All prices are on ex-works basis.
For the April 11-20 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,920/mt ($552/mt) and RMB 3,960/mt ($558/mt), ex-works, respectively.
As of April 19, the average rebar price in the Chinese market was standing at RMB 3,763/mt ($500/mt) ex-warehouse, increasing by RMB 143/mt ($20.1/mt) or 3.95 percent from April 10, according to SteelOrbis’ data.
As of April 19, rebar futures at the Shanghai Futures Exchange were at RMB 3,675/mt ($520/mt), increasing by RMB 92/mt ($13/mt) or 2.6 percent since April 10, while decreasing by 0.3 percent compared to the previous trading day, April 18.
Prices include 13 percent VAT.
$1 = RMB 7.1043