Local Chinese rebar and wire rod market sees slackened activity

Monday, 20 June 2016 14:49:30 (GMT+3)   |   Shanghai
       

During the week ending June 20, Chinese domestic rebar and wire rod prices have indicated downward movement, while transaction activity in the overall domestic rebar and wire rod market has slackened and is now at low levels. On June 20, rebar futures contract (1610) offers closed at RMB 2,062/mt ($314/mt) at Shanghai Futures Exchange, down $16/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, the traditional offseason for rebar and wire rod consumption has resulted in a lack of support for rebar and wire rod prices. The weather is hot in northern China, while it has been rainy in southern China, with these weather conditions exerting a negative impact on demand for rebar and wire rod. In addition, stormy weather in the middle and lower reaches of the Yangtze river will also negatively affect demand for and prices of rebar and wire rod. It is thought that rebar and wire rod prices in the Chinese domestic market will likely continue to move down in the coming week.

Wire rod prices in local Chinese market

Product nameSpec.CategoryCity Steel plant/originPrice (RMB/mt)Price ($/mt)Weekly change (RMB/mt)
Wire Rod8 mm dia.Q235ShanghaiPingxiang2,400365↓50
BeijingHebei Steel2,580392↓120
GuangzhouShaoguan Steel2,400365↓100
Average-2,460374↓90
Wire Rod6.5 mm dia.Q235ShanghaiPingxiang2,400365↓50
BeijingHebei Steel2,580392↓120
GuangzhouShaoguan Steel2,410366↓90
Average-2,463374↓87

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

2,080

316

0

Beijing

Hebei Steel

2,100

319

↓100

Guangzhou

Shaoguan Steel

2,400

365

↓20

Average

2,193

333

↓40

All prices include 17 percent

$1 = RMB 6.56


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

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

27 Mar | Longs and Billet

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Local Chinese longs prices up $7-8/mt amid improved demand

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Lebanese rebar market quiet while import prices drop

22 Mar | Longs and Billet

Iskenderun-based Turkish mill cuts longs prices as week ends

22 Mar | Longs and Billet

Partial stability in southern European longs market, Easter closures expected

22 Mar | Longs and Billet

Romanian longs prices stable amid ongoing optimism for demand

21 Mar | Longs and Billet