Diverse price trends in local Chinese rebar and wire rod market

During the week ending April 9, average prices of Chinese domestic rebar have mostly moved on a downward trend, though increasing in Guangzhou, while average prices of wire rod have declined in Shanghai, though rising in Guangzhou. Transaction activity in the overall domestic rebar and wire rod market has been at medium levels. On April 9, rebar futures contract (1810) offers closed at RMB 3,308/mt ($540/mt) at Shanghai Futures Exchange, up $8/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, rebar and wire rod prices in southern China have increased, though seeing declines or moving sideways in eastern and northern China. Over the past week, semi-finished steel prices in China have increased. Demand for rebar and wire rod has been improving gradually, contributing to the consumption of inventories. At the same time, however, international trade tensions have negatively impacted sentiment in the domestic long steel market. It is thought that rebar and wire rod prices in the Chinese domestic market will move sideways in the coming week.

Wire rod prices in local Chinese market

All prices include 17 percent VAT and all prices are ex-warehouse

Rebar prices in local Chinese market

All prices include 17 percent VAT and all prices are ex-warehouse

$1 = RMB 6.31