Local Chinese rebar and wire rod market moves on rising trend

Monday, 15 May 2017 15:01:01 (GMT+3)   |   Shanghai
       

During the week ending May 15, Chinese domestic rebar and wire rod prices have rebounded, while transaction activity in the domestic rebar and wire rod market has been at medium levels. On May 15, rebar futures contract (1710) offers closed at RMB 2,991/mt ($434/mt) at Shanghai Futures Exchange, down $2/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, increases have been observed in domestic semi-finished steel prices and in rebar futures prices in China, providing support for rebar and wire rod prices in the domestic spot market. Inventory levels of rebar and wire rod have decreased, also positively influencing prices. However, the hot and rainy weather conditions in most regions of China, have somewhat dampened demand for rebar and wire rod. It is thought that rebar and wire rod prices in the Chinese domestic market will move sideways in the week ahead.

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

3,590

521

70

Beijing

Hebei Steel

3,890

565

70

Guangzhou

Shaoguan Steel

3,730

541

50

Average

-

3,737

542

63

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

3,590

521

70

Beijing

Hebei Steel

3,890

565

70

Guangzhou

Shaoguan Steel

3,760

546

50

Average

-

3,747

544

63


 
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

3,480

505

90

Beijing

Hebei Steel

3,480

505

60

Guangzhou

Shaoguan Steel

3,880

563

60

Average

3,613

524

70


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

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