Prices in
Chinas main
construction steel markets were down on Wednesday.
In Shanghai, prices decreased by RMB 10-20/ton ($1-2). Prices of large diameter HRB335
rebar in Beijing remained stable, while those of small diameter
rebar declined. For other specifications, prices fell slightly. In Guangzhou, prices dropped somewhat, with the exception of high-speed
wire rod. Few transactions were concluded in these three markets.
Compared to Tuesday, the average of prices of 20mm diameter HRB335
rebar in the Beijing, Shanghai and Guangzhou markets slid RMB $7/ton ($1) to RMB 3143/ton ($388). HRB400
rebar was down RMB 16/ ton ($2) at RMB 3297/ton ($407), while Q235 high-speed
wire rod lost RMB 10/ton to finish at RMB 3220/ton ($397).
For details, please see the following:
Shanghai Prices of
construction steel declined in Shanghai as very few transactions were concluded. For second-rate brand names, the prevailing market price for 20mm diameter HRB335
rebar was down RMB 10/ton ($1) at RMB 3060/ton ($377); 20mm diameter HRB400
rebar was down RMB 20/ton ($2) at RMB 3290/ton ($406); and 6.5mm Q235 high-speed
wire rod was down RMB 10/ton ($1) at RMB 3280/ton ($404).
While traders kept their price quotations for HRB335
rebar at the same level as Tuesday, the actual deal price showed a minor decrease. For third-rate brand names, their deal prices were RMB 3040/ton ($375) with a good transaction situation.
Ma Steel initiated their price reduction for HRB400
rebar. Other brand names followed suit.
High-speed
wire rod prices saw a slight decline, while other
wire rod prices remained steady.
Beijing Q235
wire rod prices continued to plummet in Beijing, and small diameter HRB400
rebar prices were slashed.
The prevailing market price of 20mm diameter HRB335
rebar held steady at RMB 3080/ton ($380); 20mm diameter HRB400
rebar was down RMB 10/ton ($1) at RMB 3240/ton ($400); and 6.5mm Q235 high-speed
wire rod slid RMB 20/ton ($2) to RMB 3080/ton ($380).
Traders price quotations for large diameter HRB335
rebar were at RMB 3100/ton ($382); however, the actual prices were at RMB 3080/ton ($380). Some traders sold their products even lower.
HRB400
rebar witnessed a slight price decline. Prices of small diameter
rebar showed a larger range of decrease, while those of large diameter
rebar decreased by a small amount. It was reported that inventory of small diameter
rebar was somewhat high. The price gap between 12-32mm diameter
rebar was small.
Q235
wire rod prices were still weak. Prices of Q235
wire rod have decreased by RMB 20/ton ($2) on daily basis since Monday (September 19). The price difference between
wire rod and high-speed
wire rod was small. Prices were weak due to softened demand.
It was reported that prices of large-scale traders were firm. Small-scale traders sold their products at a low price. According to some market players, there was no improvement in the tight capital situation and thus it was difficult for them to collect their payment.
Guangzhou Rebar and
wire rod prices witnessed a slight decline in Guangzhou, while those of high-speed
wire rod kept stable. Activity in the Guangzhou market was not brisk. Newly arrived products will lead to an increase in inventories.
Compared to Tuesday, the prevailing market price of second-rate brand name 20mm diameter HRB335
rebar was down RMB 10/ton ($1) at 3290/ton ($406); 20mm diameter HRB400
rebar was down RMB 20/ton ($2) at RMB 3360/ton ($414); and Q235 high-speed
wire rod was at RMB 3300/ton ($407).
HRB335
rebar prices were stable in the morning. Price quotations of traders remained constant. During the day, the actual deal price saw a minor decrease. HRB400
rebar prices were weak.
Upon opening,
wire rod prices decreased by RMB30/ton ($4) and then remained unchanged. High-speed
wire rod prices were equal to those of Tuesday.
According to Ma Steels leading traders, there will be a batch of
rebar arriving in Guangzhou. Batches of Tangshan Steels products have already begun arriving in Guangzhou. Inventory is likely to increase since there is little activity in the market.