During the week ended May 27, rebar and wire rod products in the Chinese domestic market have indicated diverse pricing trends, while a slight improvement has been seen in overall market activity. On May 27, rebar futures contract (1301) offers closed at RMB 3,496/mt ($562/mt) at Shanghai Futures Exchange, down $18/mt as compared to the previous week. Average domestic rebar and wire rod prices in China's main markets can be viewed in the SteelOrbis price reports section .
During the given week, rebar and wire rod prices in the northern and southern regions of China have been trending sideways, while the most significant decreases have been seen in the eastern region mainly due to difficulties experienced by traders in selling materials. At present, market demand for construction steel products is not so strong, while mills have not yet taken significant steps to curtail production. It is expected that Chinese domestic rebar and wire rod prices will not indicate any big changes in the short term.