Chinese rebar and wire rod prices mostly continue their uptrend

Monday, 15 October 2012 16:01:43 (GMT+3)   |  
       

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.

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