North China rebar rollers hike prices

SteelOrbis Shanghai North Chinese steelmakers Shougang, Tangshan Steel, Xuanhua Steel, Chengde Steel and Tianjing Steel held a meeting in Beijing on April 21 and determined new ex-factory prices for wire rod and rebar. The prices for May shipments to Beijing and increases compared to April prices are as follows: 6.5 mm Q235 high speed wire rod prices increased RMB 200/mt ($25) to RMB 3,220/mt ($402). Rebar prices increased RMB 150/mt ($19). The new price of 16-25 mm dia. HRB335 rebar is RMB 3,100/mt ($387), that of 12-14 mm HRB335 rebar is RMB 3,190/mt ($398), that of large diameter HRB 400 is RMB 3,190/mt ($398), and that of for small diameter HRB400 is RMB 3,280/mt ($409). VAT is included in all prices. After the price hike, the ex-factory price levels have become higher than those prices in Beijing market. The current price increase may support the market in short term, but is not expected to trigger a sharp price increase later.