Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for May 11-20. Accordingly, the company has 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), respectively. All prices are on ex-works basis.
For the May 1-10 period, the producer had 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), ex-works, respectively.
As of May 10, the average rebar price in the Chinese market was standing at RMB 3,727/mt ($525/mt) ex-warehouse, decreasing by RMB 26/mt ($3.7/mt) or 0.7 percent from April 26, according to SteelOrbis’ data.
As of May 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,656/mt ($515/mt), increasing by RMB 6/mt ($0.8/mt) or 0.16 percent since April 30, while decreasing by 0.33 percent compared to the previous trading day, May 9.
Prices include 13 percent VAT.