Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for June 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 4,070/mt ($572/mt) and RMB 4,110/mt ($578/mt), respectively. All prices are on ex-works basis.
For the June 1-10 period, the producer had raised its offer prices for rebar and debar-in-coil by RMB 50/mt ($7/mt) to RMB 4,070/mt ($572/mt) and RMB 4,110/mt ($578/mt), ex-works, respectively.
As of June 7, the average rebar price in the Chinese market was standing at RMB 3,697/mt ($520/mt) ex-warehouse, decreasing by RMB 53/mt ($7.5/mt) or 1.4 percent from May 31, according to SteelOrbis’ data.
As of June 7, rebar futures at the Shanghai Futures Exchange were at RMB 3,655/mt ($514/mt), decreasing by RMB 51/mt ($7.2/mt) or 1.4 percent since May 31, while increasing by 0.36 percent compared to the previous trading day, June 6.
Prices include 13 percent VAT.