Activities improve in local Chinese rebar and wire rod market

Monday, 22 May 2017 15:00:28 (GMT+3)   |   Shanghai
       

During the week ending May 22, Chinese domestic rebar and wire rod prices have indicated an overall rising trend, while transaction activity in the domestic rebar and wire rod market has improved and is at decent levels. On May 22, rebar futures contract (1710) offers closed at RMB 3,342/mt ($485/mt) at Shanghai Futures Exchange, up $51/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.

During the given week, Chinese rebar futures prices have indicated significant increases, providing strong support for domestic rebar and wire rod prices, which have also been boosted by decreasing inventory levels. It is thought that rebar and wire rod prices in the Chinese domestic market will likely continue their upward trend in the coming week.

Wire rod prices in local Chinese market

 

Product name

Spec.

Category

City

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Wire Rod

8 mm dia.

HPB300

Shanghai

Shente

3,880

563

290

Beijing

Hebei Steel

3,980

578

90

Guangzhou

Shaoguan Steel

3,940

572

210

Average

-

3,933

571

197

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

3,880

563

290

Beijing

Hebei Steel

3,980

578

90

Guangzhou

Shaoguan Steel

3,970

576

210

Average

-

3,943

572

197


All prices include 17 percent VAT and all prices are ex-warehouse
 
Rebar prices in local Chinese market

 

Product name

Spec.

Category

City

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

HRB400 Rebar

20 mm dia.

HRB400

Shanghai

Shente

3,810

553

330

Beijing

Hebei Steel

3,720

540

240

Guangzhou

Shaoguan Steel

4,080

592

200

Average

3,870

562

257

All prices include 17 percent VAT and all prices are ex-warehouse
 
$1 = RMB 6.89


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