Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 21-31. Accordingly, the company has cut its offer prices for rebar and debar-in-coil by RMB 100/mt ($14/mt) to RMB 3,770/mt ($529/mt) and RMB 3,810/mt ($534/mt), respectively. All prices are on ex-works basis.
For the July 11-20 period, the producer had kept its offer prices for rebar and debar-in-coil stable at RMB 3,870/mt ($543.5/mt) and RMB 3,910/mt ($549/mt), ex-works, respectively.
As of July 19, the average rebar price in the Chinese market was standing at RMB 3,513/mt ($493/mt) ex-warehouse, decreasing by RMB 47/mt ($6.6/mt) or 1.32 percent from July 10, according to SteelOrbis’ data.
As of July 19, rebar futures at the Shanghai Futures Exchange were at RMB 3,479/mt ($488/mt), increasing by RMB 1/mt ($0.14/mt) since July 10, while increasing by 0.12 percent compared to the previous trading day, July 18.
Prices include 13 percent VAT.