Diverse trends in local Chinese rebar and wire rod market

Monday, 09 November 2015 17:53:48 (GMT+3)   |   Shanghai
       

During the week ending November 9, rebar and wire rod prices have indicated diverse trends in local markets in China, with prices in northern China seeing declines due to slack demand amid cold weather conditions, while transaction activity in the overall domestic rebar and wire rod market has continued to be at decent levels, though slackening in northern China. On November 9, rebar futures contract (1601) offers closed at RMB 1,850/mt ($291/mt) at Shanghai Futures Exchange, up $7/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, winter weather conditions have observed seen in northern China, while Beijing has even seen its first snowfall of the winter, and so demand for rebar and wire rod in northern China has been negatively impacted, resulting in declines in rebar and wire rod prices in the region. Rebar and wire rod consumption in southern China has been at decent levels, with prices indicating slight rises. Transaction activity for both rebar and wire rod in eastern China has been relatively quiet, with rebar prices moving sideways, while wire rod prices in the region indicating declines. In the long term, the Chinese steel industry will remain under strong pressure as China’s economic growth is unlikely to continue its rapid pace of growth. It is thought that rebar and wire rod prices in the Chinese domestic market will likely indicate a slight downtrend in the coming week as consumption will slow down due to colder weather conditions. 

Wire rod prices in Chinese market
 
Product name Spec. Category City  Steel plant/origin Price (RMB/mt) Price ($/mt) Weekly change (RMB/mt)
Wire Rod 8 mm dia. Q235 Shanghai Pingxiang 2,130 335 20
Beijing Hebei Steel 1,900 299 20
Guangzhou Shaoguan Steel 2,170 341 ↑20
Average - 2,067 325 6
Wire Rod 6.5 mm dia. Q235 Shanghai Pingxiang 2,130 335 20
Beijing Hebei Steel 1,900 299 20
Guangzhou Shaoguan Steel 2,200 346 ↑20
Average - 2,077 327 6
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 Pingxiang 1,950 307 0
Beijing Hebei Steel 1,870 294 30
Guangzhou Shaoguan Steel 2,220 349 ↑40
Average 2,014 317 ↑4
 
 
All prices include 17 percent VAT and all prices are ex-warehouse.
 
$1 = RMB 6.36 
 


Similar articles

Domestic rebar prices in Taiwan - week 13, 2024

29 Mar | Longs and Billet

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet