During the week ending October 15, most
rebar and
wire rod prices in the Chinese market have continued to trend upwards, though decreases have been observed in a few regions. On October 15, the
rebar futures contract (1301) at Shanghai Futures Exchange closed at $571/mt. Average domestic
rebar and
wire rod prices in
China's main markets can be viewed in the SteelOrbis price reports section.
Exceptionally, in Shanghai
wire rod prices have declined significantly due to the decrease in purchasing volumes after the strong booking activity observed in the previous week. For the coming week, it is expected that
rebar and
wire rod prices in
China will trend sideways or slightly downward.