In early August (August 1-10) this year, the average price in China of 16-25 mm HRB 400 rebar increased by RMB 48.1/mt ($6.94/mt) or 1.3 percent to RMB 3,768.1/mt ($543.3/mt), compared to prices in late July (July 21-31), as announced by China’s National Bureau of Statistics.
In the given period, prices of wire rod, medium plate, hot rolled coil (HRC), seamless steel pipes and angles edged up by 1.2 percent, 1.0 percent, 1.6 percent, 0.3 percent and 0.3 percent, respectively, all compared to late July. The high levels of iron ore prices bolstered finished steel prices.