Local Chinese rebar and wire rod market sees improved activity

During the week ending October 17, Chinese domestic rebar and wire rod prices have indicated an overall uptrend, while transaction activity in the domestic rebar and wire rod market is now at decent levels. On October 17, rebar futures contract (1701) offers closed at RMB 2,431/mt ($361/mt) at Shanghai Futures Exchange, up $23/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, consumption has been good at construction sites in China amid the current peak season, resulting in improved activity. Most traders have raised their selling prices for rebar and wire rod. Meanwhile, ferrous metal futures prices have continued their rising trend, providing support for rebar and wire rod prices in the spot market. At the same time, domestic steelmakers have raised their prices for rebar and wire rod, exerting a positive impact on prices in the spot market. It is expected that rebar and wire rod prices in the Chinese domestic market will continue their upward 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
 
$1 = RMB 6.74