| China's Shagang Steel placed a $543 per ton, cfr, quotation for SD400, 10mm rebar steel products to Korea over the March shipment. The quotation hiked $10 per ton from February. The dowside seems a reflection that the company came to a near-standstill on its domestic price for March, the market particpants told S&M Media. Shgang Steel used to place higher export offer prices for rebar to Korea than any other steel mills in China including Yonggan Steel which presented $545 per ton earlier.
At present, Chinese rebar imports trade for 630,000 won per ton more or less in Korea, and therefore, Shagang Steel's offers of $543 per ton can be similar to 614,000 won per ton in Korean currency while equating to around 640,000 won per ton if reflected diverse expenses that are pertinent to the importation.
Source: Steel&Metal News