Local Chinese rebar prices down 2.8 percent in late December

Monday, 06 January 2020 11:33:23 (GMT+3)   |   Shanghai

In late December (December 21-31) this year, the average price in China of 16-25 mm HRB 400 rebar decreased by 2.8 percent to RMB 3,781.1/mt ($542.3/mt), compared to mid-December (December 11-20), as announced by China’s National Bureau of Statistics. In the given period, prices of medium plate rose by 0.1 percent, while prices of wire rod, hot rolled coil (HRC), seamless steel pipe and angles decreased by 2.6 percent, 0.1 percent, 0.7 percent and 0.7 percent, respectively, all compared to mid-December.

In the late December period, rebar futures at Shanghai Futures Exchange (SHFE) increased by 1.77 percent from RMB 3,507/mt to RMB 3,569/mt. Meanwhile, major Chinese steelmaker Shagang has kept its ex-works offer prices for rebar, high-speed wire rod and bar-in-coil stable for January 1-10.

$1 = RMB 6.9718

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