Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for July 11-20. Accordingly, the company has kept its offer prices for rebar and debar-in-coil stable at RMB 3,870/mt ($543/mt) and RMB 3,910/mt ($548/mt), respectively. All prices are on ex-works basis.
For the July 1-10 period, the producer had cut its offer prices for rebar and debar-in-coil by RMB 100/mt to RMB 3,870/mt ($543.5/mt) and RMB 3,910/mt ($549/mt), ex-works, respectively.
As of July 10, the average rebar price in the Chinese market was standing at RMB 3,560/mt ($499/mt) ex-warehouse, decreasing by RMB 10/mt ($1.4/mt) or 0.28 percent from June 28, according to SteelOrbis’ data.
As of July 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,478/mt ($488/mt), decreasing by RMB 66/mt ($9.3/mt) or 1.9 percent since June 28, while decreasing by 0.91 percent compared to the previous trading day, July 9.
Prices include 13 percent VAT.