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) |
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 | |||
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