Major Chinese steel longs producers in the east of the coutnry have cut their mid-June list prices by CNY 70-120/tonne ($10.3-17.65/t). Mills in other areas meanwhile have kept prices flat or pushed moderate increases over the same period. The variance in longs prices has continued from early June but rebar futures still suggest a downward trend, Kallanish notes.

On the Shanghai Futures Exchange the October rebar contracts closed down CNY 95/t at CNY 2,935/t. Zenith and Shagang both are offering refunds of CNY 50-100/t to certain customers over 1-10 June, and have now lowered their ex-works prices to match the falling spot market.

Eastern China’s Shagang, Zhongtian Iron & Steel (Zenith) and Shente Iron & Steel, and north-eastern Heilongjiang Jianlong have all published new ex-works construction steel prices for mid-June. Southern China’s Liuzhou Iron & Steel (Liugang) and Kunming Iron & Steel have done likewise. Heilongjiang Jianlong increased its 18-25mm HRB400E rebar price by CNY 10/t to 3,535/t ($520.07/t) over 12-20 June.

Chinese construction steel ex-works prices 11-20 June 2017 (CNY/tonne incl. VAT)

Company Rebar HRB400 16-25mm High speed wire rod HPB300 6.5mm Rebar in coil HRB400 8-10mm
Shagang price 3,730 3,540 3,660
Shagang change -120 -120 -120
Zenith price 3,730 3,780
*8mm		 3,780
Zenith change -70 -100 -100
Shente price 3,730 3,780 3,780
Shente change -70 -100 -100
Liugang price 4,130
*18-25mm		 4,180 4,210
*6-12mm
Liugang change +30 +30 +30
Kungang price 4,350 4,420 4,480
Kungang change +20 +20 +20

Source: Published company information
Note: Liugang price effective as from 12 June, Kungang as friom 13 June