Shagang keeps rebar price stable amid positive outlook
Dec 11, 2019 15:00
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Shagang Group, China’s largest private steel producer based in East China’s Jiangsu province, will roll over its rebar list price for sales over December 11-20, the mill announced on Wednesday. The steelmaker wants to firmly support the price, despite the recent weakness in the domestic market, a Shagang official explained to Mysteel Global.
Therefore, Shagang’s ex-works price for HRB400 16-25 dia rebar will remain at Yuan 4,210/tonne ($598/t), unchanged from the prior sales term over December 1-10 and despite the fact that during the last few days, market transaction prices for rebars in Shanghai have declined by a total of Yuan 110/t, Mysteel