Local Chinese rebar and wire rod market fluctuates in line with futures prices

As of June 12, Chinese domestic rebar and wire rod average prices have decreased on week-on-week basis, while transaction activity in the domestic rebar and wire rod market has been at low levels. On June 12, rebar futures contract (1710) offers closed at RMB 3,033/mt ($446/mt) at Shanghai Futures Exchange, up $13/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, domestic rebar and wire rod prices first decreased due to declines in semi-finished steel prices and steel futures prices in China, before moving up later in the week with the support of increases in rebar futures prices, while average prices in the overall domestic rebar and wire rod market are down on week-on-week basis. However, demand in the market is slack in the current offseason due to high temperatures and rainy weather. It is thought that rebar and wire rod prices in the Chinese domestic market will likely move down further in the coming week.

Wire rod prices in local Chinese market

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