China: Shagang rebar export offers to South Korea rise $40/t m-o-m in Dec

One of China's leading steel makers, Shagang Steel's December 2022 offers of rebar (10 mm) are at $590/t CFR and 13-mm at $580/t CFR South Korea. On a m-o-m basis, offers have increased by $40/t and this is the first increase in the last four months. In addition, other steel makers have also raised their December offers for rebars against last month.

The landed price of imports into South Korea is estimated to be around KRW 780,000/t ($592/t). Import prices, including various incidental expenses, range from KRW 820,000-830,000/t ($622-629/t).

Furthermore, market participants observe that introduction of stimulus measures and easing of Covid restrictions in China have lent support to increased rebar offers. On the other hand, Japanese rebar manufacturers have stuc to their offers of JPY 80,000/t ($585/t).

Note: This article has been written in accordance with an article exchange agreement between SteelDaily and SteelMint.