During the past week ending July 24, Chinese domestic rebar prices have mostly softened, while wire rod prices have mainly increased. Transaction activity in the domestic rebar and wire rod market has been at low-to-medium levels. On July 24, rebar futures contract (1710) offers closed at RMB 3,516/mt ($510/mt) at Shanghai Futures Exchange, down $16/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, many regions in China have seen record high temperatures, resulting in a slackening of demand for rebar and wire rod. Meanwhile, rebar futures prices have softened, negatively affecting sentiment as regards the future prospects for the market. It is thought that rebar and wire rod prices in the Chinese domestic market will soften slightly in the coming week.
Wire rod prices in local Chinese market
|
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
8 mm dia. |
HPB300 |
Shanghai |
Shente |
3,930 |
581 |
↑50 |
|
|
Beijing |
Hebei Steel |
4,130 |
611 |
↑10 |
|||
|
Guangzhou |
Shaoguan Steel |
3,990 |
590 |
0 |
|||
|
Average |
- |
4,017 |
594 |
↑20 |
|||
|
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
3,930 |
581 |
↑50 |
|
|
Beijing |
Hebei Steel |
4,130 |
611 |
↑10 |
|||
|
Guangzhou |
Shaoguan Steel |
4,020 |
595 |
0 |
|||
|
Average |
- |
4,027 |
596 |
↑20 |
All prices include 17 percent VAT and all prices are ex-warehouse
Rebar prices in local Chinese market
|
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
HRB400 Rebar |
20 mm dia. |
HRB400 |
Shanghai |
Shente |
3,760 |
556 |
↑10 |
|
Beijing |
Hebei Steel |
3,730 |
552 |
↓30 |
|||
|
Guangzhou |
Shaoguan Steel |
4,030 |
596 |
↓20 |
|||
|
Average |
- |
3,840 |
568 |
↓13 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.76