China’s Shagang raises rebar/rod prices for April 21-30

Jiangsu Shagang Group, China’s largest privately-owned steelmaker, has raised its domestic rebar and wire rod list prices for sales over April 21-30, from the previous period over April 11-20, a mill source said Monday.

The price of Shagang's 16-25 mm diameter HRB 400 rebar will rise by Yuan 50/mt ($7/mt) to Yuan 4,250/mt, including 13% value added tax, the source said. The new rebar list price is the highest since late November 2018.

Shagang also lifted its rod prices by Yuan 80/mt for April 21-30, putting HPB300 6.5 mm rod at Yuan 4,280/mt, including VAT, the source added.

On Monday, the most active October rebar contract on the Shanghai Futures Exchange closed at Yuan 3,773/mt, up Yuan 35/mt, or 0.9%, on the day.

-- Dai Yuelin

source : SteelBB