China construction steel daily recap September 30
Markets were not brisk today as traders focused on collecting receivables prior to next weeks National Holiday.
A few
construction sites purchased products for stockpiling. In Shanghai, HRB400
rebar prices declined sharply, and HRB335
rebar prices in Beijing fell slightly.
Compared to Thursday, the average of 20mm diameter HRB335
rebar prices in Beijing, Shanghai and Guangzhou was RMB 3120/ton($385), down RMB 7/ton ($1); 20mm diameter HRB400
rebar was down RMB 10/ton ($1) to RMB 3253/ton ($401); and 6.5mm Q235 high-speed
wire rod held steady at RMB 3197/ ton ($394).
Shanghai The Shanghai market was not brisk. Prices of traders who were not eager to sell their products remained firm. The prevailing HRB335 prices of some traders remained constant at RMB 3030/ton ($374), as they intended to conclude more transactions.
Yesterday afternoon, a large-scale trader won a bid in the Shanghai market, which has a great demand for HRB400
rebar products. He purchased one thousand tons of MaSteels products at RMB 3220/ ton ($397), RMB 30/ton ($4) lower than that of the prevailing market price. The prevailing market prices on Sep.30 were RMB 3220/ton ($397).
Beijing The prevailing market price of 18-25mm diameter HRB335
rebar was RMB 3080/ ton ($380), down RMB 20/ton ($2). Price quotations of traders were at a high level of RMB 3120-3150/ton ($385-388), which indicated their intention to maintain prices in the market.
Guangzhou Prices in the Guangzhou market kept stable. According to market players, the current HRB400
rebar inventory was low due to stockpiling of the
construction sites.
SteelOrbis Shanghai