Local Chinese steel prices fall further in mid-Aug, rebar shows biggest drop

Monday, 26 August 2019 10:46:49 (GMT+3)   |   Shanghai

In mid-August (August 11-20) this year, the average prices in China of 16-25 mm HRB 400 rebar declined by 2.8 percent to RMB 3,774.8/mt ($534.9/mt), compared to prices in early August (August 1-10), as announced by China’s National Bureau of Statistics. In the given period, wire rod lost 2.0 percent, while medium plate, hot rolled coil (HRC) and angles went down by 1.3 percent, 1.0 percent and 0.8 percent, compared to mid-August. Demand in the long steel product market has remained subdued and is unlikely to recover much this week, but some improvements are expected for September due to better weather conditions and the anticipated pickup in construction activity.

In the mid-August period, the average price of 219 mm x 6 mm seamless pipes was recorded at RMB 4,735.5/mt ($671.0/mt), up RMB 12.8/mt ($1.8/mt) or 0.5 percent compared to prices in early August. 

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