Quiet activity in local Chinese rebar and wire rod market

During the week ending December 21, rebar prices in Beijing and Shanghai have indicated a rising trend, though declining in Guangzhou, while wire rod prices have moved sideways in Beijing and Shanghai, but have edged down in the Guangzhou market. Transaction activity in the domestic rebar and wire rod market has been at low levels. On December 21, rebar futures contract (1605) offers closed at RMB 1,749/mt ($270/mt) at Shanghai Futures Exchange, up $12/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, since rebar and wire rod supplies have been directed from northern China to the south of the country, prices in southern China have indicated an overall downtrend. At the same time, rebar prices in northern and eastern China have bottomed up slightly as they were at low levels for a long time. Meanwhile, a small rebound has been seen in iron ore prices, providing a certain degree of support for domestic finished steel prices. It is thought that rebar and wire rod prices in the Chinese domestic market will most likely move sideways in the coming week.

 

 

All prices include 17 percent VAT and all prices are ex-warehouse

 

 

 

All prices include 17 percent VAT and all prices are ex-warehouse.

 

$1 = RMB 6.48