Transaction activity improves in local Chinese rebar and wire rod market

During the week ending November 28, Chinese domestic rebar and wire rod prices have indicated an upward trend, while transaction activity in the domestic rebar and wire rod market has been better compared to the previous week and is now at medium levels. On November 28, rebar futures contract (1701) offers closed at RMB 3,188/mt ($461/mt) at Shanghai Futures Exchange, up $69/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, with the significant increases seen in ferrous metal futures prices in China, rebar and wire rod prices in the Chinese domestic market have indicated upward movement. Meanwhile, rising raw material prices and production restrictions for environmental protection in China's northern region amid cold winter conditions have provided support for rebar and wire rod prices in the spot market. It is thought that rebar and wire rod prices in the Chinese domestic market will likely continue to follow a rising 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 VAT and all prices are ex-warehouse
 
$1 = RMB 6.91