During the week ending June 26, Chinese domestic rebar and wire rod prices have indicated an overall downward trend, while transaction activity in the domestic rebar and wire rod market has been at low levels. On June 26, rebar futures contract (1710) offers closed at RMB 3,148/mt ($460/mt) at Shanghai Futures Exchange, up $1/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, rainy weather prevailing all around China has negatively affected the demand for rebar and wire rod, slackening the transaction activities and dragging down domestic rebar and wire rod prices, especially in eastern China. In the given week, inventory level has increased slightly in the spot market, while decreased a little bit on steelmakers' side. Since the plum rainy weather will continue in the coming week, it is thought that rebar and wire rod prices in the local Chinese market will likely move sideways in the coming week.
Wire rod prices in local Chinese market
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
8 mm dia. | HPB300 | Shanghai | Shente | 3,560 | 520 | ↓130 | |
Beijing | Hebei Steel | 3,950 | 577 | 0 | |||
Guangzhou | Shaoguan Steel | 3,810 | 557 | ↓70 | |||
Average | - | 3,773 | 552 | ↓67 | |||
6.5 mm dia. | HPB300 | Shanghai | Shente | 3,560 | 520 | ↓130 | |
Beijing | Hebei Steel | 3,950 | 577 | 0 | |||
Guangzhou | Shaoguan Steel | 3,840 | 561 | ↓70 | |||
Average | - | 3,783 | 553 | ↓67 |
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 | 3,470 | 507 | ↓130 |
Beijing | Hebei Steel | 3,540 | 518 | ↓40 | |||
Guangzhou | Shaoguan Steel | 3,910 | 572 | ↓80 | |||
Average | - | 3,640 | 532 | ↓83 |
All prices include 17 percent VAT and all prices are ex-warehouse
$1 = RMB 6.84