China construction steel daily recap – September 29

China construction steel daily recap – September 29

The Beijing, Shanghai and Guangzhou construction steel markets were not brisk on Thursday as traders refrained as much as possible from making price adjustments prior to next week’s holiday. In Shanghai, HRB400 rebar and wire rod prices held steady, while HRB335 rebar prices were down RMB 20/ton ($2). Prices in Beijing and Guangzhou remained unchanged. Compared to Wednesday, the average of 20mm diameter HRB335 rebar prices in Beijing, Shanghai and Guangzhou was RMB 3’127/ton ($386), down RMB 6/ton ($1); 20mm HRB400 rebar was unchanged at RMB 3’263/ton ($402); and 6.5mm Q235 high-speed wire rod was RMB 3’197/ton ($394), down RMB 3/ton. According to traders, construction sites concluded their stockpiling in the last few days. The purchasing volume of construction sites dropped sharply as the National Holidays was approaching. In order to avoid financial risks, traders required payment by cash, except for their regular customers. This requirement further restricted the transaction volume.