Shagang keeps ex-works rebar prices flat
China's largest private-sector steel producer Jiangsu Shagang has kept its rebar ex-works prices flat for mid-December deliveries in an attempt to stabilise market sentiment.
Shagang's base rebar specification HRB400 with 16-25mm diameter will be offered at 4,210 yuan/t ($598/t) for mid-December deliveries, effective 11 December.
Construction demand has started to weaken in major markets, as is typical in the winter. Nationwide stocks held by trading firms and mills increased by more than 110,000t over the two weeks to 7 December to 4.9mn t, third-party data show. Shanghai rebar prices have fallen by Yn100/t since 2 December to Yn3,930/t ex-warehouse.
Shagang, which is based in east China, did not cut prices on expectations that supplies may tighten to some extent after three major producers in the region announced maintenance plans for rebar production lines in December. This will lead to an estimated rebar output cut of 222,000t this month.
Shagang is one of China's largest steel producers, which allows it to sell products at a premium to secondary steel prices.
Shagang reduced its wire rod and small-sized rebar in coil prices by Yn150/t.
Shagang listed prices, effective 11 December:
- HRB400 6mm rebar at Yn4,560/t
- HRB400 8-10mm rebar at Yn4,310/t
- HRB400 16-25mm rebar at Yn4,210/t
- HRB400 10mm rebar at Yn4,370/t
- HRB400 12mm rebar at Yn4,310/t
- HRB400 14mm rebar at Yn4,240/t
- HRB400 28-32mm rebar at Yn4,270/t
- HRB400 36mm and 40mm rebar at Yn4,460/t
- HRB500 rebar sizes are Yn350/t above HRB400
- HRB500E rebar sizes are Yn380/t above HRB400
- HPB300 6.5mm wire rod at Yn4,270/t
source: Argus Media
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years