Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 1-10. Accordingly, the company has 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), respectively. All prices are on ex-works basis.
For the June 21-30 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 100/mt ($14/mt) to RMB 3,970/mt ($559/mt) and RMB 4,010/mt ($565/mt), ex-works, respectively.
As of June 28, the average rebar price in the Chinese market was standing at RMB 3,570/mt ($501/mt) ex-warehouse, decreasing by RMB 70/mt ($9.8/mt) or 1.9 percent from June 20, according to SteelOrbis’ data.
As of June 28, rebar futures at the Shanghai Futures Exchange were at RMB 3,544/mt ($498/mt), decreasing by RMB 53/mt ($7.4/mt) or 1.5 percent since June 20, while decreasing by 0.20 percent compared to the previous trading day, June 27.
Prices include 13 percent VAT.