In mid-February (February 11-20) this year, the average price in China of 16-25 mm HRB 400 rebar increased by RMB 27.2/mt ($3.9/mt) or 0.8 percent to RMB 3,619.5/mt ($515.3/mt), compared to prices in early February (February 1-10), as announced by China’s National Bureau of Statistics. In the given period, prices of wire rod, seamless steel pipe and angles increased by 0.2 percent, 0.4 percent and 0.2 percent, while prices of medium plate and hot rolled coil (HRC) decreased by 0.3 percent and 0.3 percent, respectively, all compared to early February.
As of February 20, rebar futures at Shanghai Futures Exchange (SHFE) increased by RMB 155/mt ($22.1/mt) or 4.7 percent to RMB 3,460/mt ($492.6/mt) from RMB 3,305/mt recorded on February 10. Meanwhile, major Chinese steelmaker Shagang has kept its offer prices for rebar, high-speed wire rod and bar-in-coil stable for February 21-29. All prices are on ex-works basis.
$1 = RMB 7.0246