Downtrend in local Chinese rebar and wire rod market

Monday, 26 June 2017 11:59:41 (GMT+3)   |   Shanghai
       

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)

Wire Rod

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

Wire Rod

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


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