China construction steel daily recap – September 30

China construction steel daily recap – September 30

Markets were not brisk today as traders focused on collecting receivables prior to next week’s National Holiday. A few construction sites purchased products for stockpiling. In Shanghai, HRB400 rebar prices declined sharply, and HRB335 rebar prices in Beijing fell slightly. Compared to Thursday, the average of 20mm diameter HRB335 rebar prices in Beijing, Shanghai and Guangzhou was RMB 3’120/ton（$385), down RMB 7/ton ($1); 20mm diameter HRB400 rebar was down RMB 10/ton ($1) to RMB 3’253/ton ($401); and 6.5mm Q235 high-speed wire rod held steady at RMB 3’197/ ton ($394). Shanghai The Shanghai market was not brisk. Prices of traders who were not eager to sell their products remained firm. The prevailing HRB335 prices of some traders remained constant at RMB 3’030/ton ($374), as they intended to conclude more transactions. Yesterday afternoon, a large-scale trader won a bid in the Shanghai market, which has a great demand for HRB400 rebar products. He purchased one thousand tons of MaSteel’s products at RMB 3’220/ ton ($397), RMB 30/ton ($4) lower than that of the prevailing market price. The prevailing market prices on Sep.30 were RMB 3’220/ton ($397). Beijing The prevailing market price of 18-25mm diameter HRB335 rebar was RMB 3’080/ ton ($380), down RMB 20/ton ($2). Price quotations of traders were at a high level of RMB 3’120-3’150/ton ($385-388), which indicated their intention to maintain prices in the market. Guangzhou Prices in the Guangzhou market kept stable. According to market players, the current HRB400 rebar inventory was low due to stockpiling of the construction sites. SteelOrbis Shanghai