Local Chinese rebar and wire rod market follows a rising trend

As of July 17, Chinese domestic rebar and wire rod prices have increased on week-on-week basis, while transaction activity in the domestic rebar and wire rod market has been at low-to-medium levels. On July 17, rebar futures contract (1710) offers closed at RMB 3,627($526/mt) at Shanghai Futures Exchange, up $26/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below. 

In the first part of the given week, rebar futures prices in China indicated a rising trend, pushing up rebar prices in the spot market. In the latter part of the week, however, demand from downstream users has slackened, and so some traders lowered their sales prices by the end of week. It is thought that rebar prices in the Chinese domestic market will likely fluctuate on a soft trend 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

All prices include 17 percent VAT and all prices are ex-warehouse 

$1 = RMB 6.77