During the week ending April 15, domestic rebar and wire rod prices in China have seen slight fluctuations. Average prices of HRB 400 rebar and 8 mm wire rod in China are now at $599.7/mt and $585/mt respectively, down $0.5/mt and $5/mt week on week. On April 15, rebar futures contract (1310) offers closed at $600/mt at Shanghai Futures Exchange, remaining unchanged week on week. Average domestic rebar and wire rod prices in China's main markets can be viewed in the SteelOrbis price reports section.
Transaction activity for wire rod has been sluggish in Guangzhou due to the rainy weather, pushing up wire rod inventory and dragging down prices. In other regions of China, the purchasing activity of construction sites has increased slightly after the recent Tomb-Sweeping Holiday. Meanwhile, new supplies from steelmakers have continued to arrive in the market.
It is expected that rebar and wire rod prices in the Chinese domestic market will continue their fluctuating trend in the coming week.