Major Chinese steel mills have either held late March rebar prices flat or decreased them by CNY 10-60/t ($1.45-8.71/t). Futures prices have fallen sharply over the past few days, Kallanish notes.

Several mills have published their late March steel longs ex-works prices (see table below). These include eastern China’s Shagang, Zhongtian Iron & Steel (Zenith), Shente Iron & Steel and Fangda Special Steel, northern China’s Hebei Iron & Steel (Hegang) and Shougang Changzhi.

The longs markets remain much more positive than flats, and deals on major spot markets were still active (see separate article). There is less confidence that prices can increase very far however, especially with raw materials prices falling.

Chinese construction steel ex-works prices (CNY/tonne incl. VAT) 21-31 March 2017 

Company Rebar HRB 400 16-25mm High speed wire rod HPB300 6.5mm Rebar in coil HRB400 8-10mm
Shagang price 3850 3760 3880
Shagang change 0 +50 +50
Hegang price 3920
*16,20,22mm		 4120
*6.5-10mm		 4020
*8-12mm
Hegang price 0 0 -50
Zenith price 3850 4030
*8mm		 4030
*8mm
Zenith change 0 0 0
Shente price 3850 4000 4000
Shente change 0 +120 +120
Fangda price 3770 3890 3970
Fangda change -10 -10 -10
Shougang price 4140
*18-22mm		 3700
*6,5-12mm		 3760
Shougang price -60 -40 -40

Source: Companies' published information