Shagang Group (Shagang), China’s largest privately-owned steel producer headquartered in East China’s Jiangsu province, has decided to keep its list prices of rebar, wire rod and bar-in-coil unchanged for domestic sales over December 21-31 from the previous period, the steelmaker announced on Wednesday morning.
This roll-over follows Shagang’s Yuan 100/tonne ($14.4/t) hike for the previous 10-day sales period, Mysteel Global noted.
With the latest price policy, the steel giant’s HRB400 16-25mm rebar is still priced at Yuan 4,050/t for late December, HPB300 6-10mm high-speed wire rod at Yuan 4,360/t, and HRB400 8-10mm bar-in-coil at Yuan 4,450/t, all in terms of EXW and including the 13% VAT.
As for China’s spot rebar prices, the national price of HRB400E 20mm rebar for example, was assessed by Mysteel at Yuan 4,101/t and including the 13% VAT as of December 20, higher by Yuan 102/t from that on December 9. However, the price has been declining since December 19.
Sources said that some market participants are not optimistic about China’s near-term steel market outlook with the year-end approaching, while steel demand has remained bleak in winter months.
According to Mysteel’s survey, the trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 trading houses nationwide averaged 140,042 tonnes/day during mid-December, down 3.1% from the prior 10-day period.
Written by Rong Zhang, zhangronga@mysteel.com
Note: This article has been written in accordance with an article exchange agreement between Mysteel Gloabl and SteelMint.
Leave a Reply