Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for April 11-20. Accordingly, the company has 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), respectively. All prices are on ex-works basis.
For the April 1-10 period, the producer had kept its offer prices for rebar and debar-in-coil stable, which stood at RMB 3,920/mt ($552/mt) and RMB 3,960/mt ($558/mt), respectively.
As of April 10, the average rebar price in the Chinese market was standing at RMB 3,620/mt ($510/mt) ex-warehouse, increasing by RMB 70/mt ($10/mt) or 2.0 percent from March 29, according to SteelOrbis’ data.
As of April 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,583/mt ($505/mt), rising by RMB 171/mt ($24/mt) or 5.0 percent since March 29, while rising by 0.36 percent compared to the previous trading day, April 9.
Prices include 13 percent VAT.
$1 = RMB 7.0968