China construction steel daily recap – September 19

China construction steel daily recap – September 19

Prices in the Guangzhou and Shanghai construction steel markets showed obvious declines, while those in Beijing remained stable. Very few transactions were concluded in any of the three markets. The average price of 20mm diameter HRB335 rebar in Beijing, Shanghai and Guangzhou was RMB 3’167/ton ($391), down RMB20/ton ($2) from the last business day. 20mm diameter HRB400 rebar was down RMB 10/ton to RMB 3’317/ton ($409), while 6.5mm Q235 high-speed wire rod fell RMB 23/ton to RMB 3’240/ton ($400). For details, please see the following: Shanghai Prices of Shanghai construction steel showed a minor decline. For second-rate brand names, the prevailing market price for 20mm diameter HRB335 rebar was down RMB 10/ton ($2) to RMB 3’080/ton ($380); 20mm diameter HRB400 rebar fell RMB 10/ton ($1) to RMB 3’320/ton ($409); and 6.5mm Q235 high-speed wire rod was down RMB 20/ton ($2) to RMB 3’300/ton ($407). Upon opening today, most traders cut their price quotations for HRB335 rebar by RMB 10-20/ton ($1-2). Although the actual deal price slightly declined, some traders did not adjust their prices. For the most part, wire rod prices decreased by RMB 10/ton ($1). Pingxiang Steel decreased its price for 6.5mm high-speed wire rod by RMB 20/ton ($2) to RMB 3’300/ton ($407). Beijing Small diameter HRB335 rebar prices saw a large range of decrease; prices of other specifications remained stable. The prevailing market price of 20mm HRB335 rebar was RMB 3’100/ton ($382); 20mm diameter HRB400 rebar was RMB 3’250/ton ($401); and 6.5mm Q235 high-speed wire rod was RMB 3’120/ton ($385). Today’s price quotations were basically equal to those of the last trading day; however, there were few many inquires or activities. HRB400 rebar prices remained stable. The short supply was alleviated. Batches of 28-32mm diameter rebar produced by Shougang, Tang Steel and others are expected to arrive in Beijing this week. 32mm diameter rebar price was equal to that of 28mm diameter rebar, i.e. RMB 3’280/ton ($404). Q235 wire rod price quotations were stable. For some traders, their actual deal prices of wire rod and high-speed wire rod were uniform. According to some traders, there is sufficient high-speed wire rod product in the market. Guangzhou Prices in the Guangzhou market witnessed a continuous price decline. Wire rod and HRB335 rebar prices showed obvious declines with hardly any transactions concluded. For second-rate brand names, the prevailing market price of 20mm diameter HRB335 rebar was RMB 3’320/ton ($409), down RMB40/ton ($5) from that of the previous day; 20mm HRB400 rebar was RMB 3’380/ ton ($417), down by RMB 20/ton ($2); and Q235 high-speed wire rod was RMB 3’320/ton ($409), down RMB 30/ton ($4). According to the market players, HRB335 rebar prices experienced minor decreases over the weekend. Upon opening on Monday, prices further decreased. The actual deal price declined by RMB 40-50/ton ($5-6) from that of last week to RMB 3’320/ton ($409). HRB400 rebar prices were down RMB 20/ton ($2). According to insiders, there will be some newly added HRB400 rebar arriving in Guangzhou. Therefore, Guangzhou will have sufficient products. Wire rod prices continuously decreased by RMB 10/ton ($1) on daily basis since last Saturday, September 17. The prevailing market price decreased by RMB 30/ton ($4) from that of Friday to RMB 3’320/ton ($409).