In mid-December (December 11-20) this year, the average price in China of 16-25 mm HRB 400 rebar decreased by 2.5 percent to RMB 3,888.6/mt ($557.1/mt), compared to prices in early December (December 1-10), as announced by China’s National Bureau of Statistics. In the given period, prices of medium plate and hot rolled coil (HRC) rose by 0.8 percent and 1.2 percent, while prices of wire rod, seamless steel pipe and angles decreased by 2.5 percent, 0.7 percent and 0.4 percent, respectively, all compared to early December.
In the mid-December period, rebar futures at Shanghai Futures Exchange (SHFE) decreased by 0.85 percent from RMB 3,537/mt to RMB 3,507/mt. Meanwhile, major Chinese steelmaker Shagang has cut its offer prices for high-speed wire rod and bar-in-coil by RMB 300/mt ($42.9/mt), respectively, while decreasing its offer prices for rebar by RMB 250/mt ($35.8/mt). All prices are on ex-works basis.