China's largest private-sector steel producer Jiangsu Shagang kept all its construction steel prices unchanged for mid-July deliveries.
Shagang's base rebar specification HRB400 with 16-25mm diameter will be offered at 4,170 yuan/t ($607/t) for mid-July deliveries, effective from today.
The company continued to offer rebates to agents on prior sales to compensate for falling prices in secondary markets. Rebar prices have decreased by Yn80/t since July 1 in Shanghai as transactions in major south China markets remain sluggish during the rainy season.
Third-party data showed China's rebar traders' inventories have increased by over 180,000t in the recent two weeks from 24 June to 5 July.
Shagang also maintained its wire rod and small-sized rebar in coil prices for mid-July deliveries.
Shagang listed prices effective from 11 July:
- HRB400 6mm rebar at Yn4,620/t
- HRB400 8-10mm rebar at Yn4,320/t
- HRB400 16-25mm rebar at Yn4,170/t
- HRB400 10mm rebar at Yn4,330/t
- HRB400 12mm rebar at Yn4,270/t
- HRB400 14mm rebar at Yn4,200/t
- HRB400 28-32mm rebar at Yn4,230/t
- HRB400 36mm and 40mm rebar at Yn4,420/t
- HRB500 rebar sizes are Yn350/t higher than HRB400
- HRB500E rebar sizes are Yn380/t higher than HRB400
- HPB300 6.5mm wire rod at Yn4,300/t
