During the past week ending September 22, average Chinese domestic rebar and wire rod prices have continued their gradual upward trend amid the rises seen in rebar futures prices.
The average rebar price has moved up by RMB 40/mt ($5.6/mt) compared to September 15, while the average 6.5 mm HPB 300 wire rod price has risen by RMB 47/mt ($6.6/mt). Rebar prices have increased by RMB 24/mt ($3.4/mt) compared to the previous trading day, September 19.
During the given week, rebar and wire rod prices have moved up amid the improved demand from downstream users. At the same time, the production of rebar and wire rod has been steady, and this trend will continue in the coming period. Since the National Day holiday (October 1-8) is approaching, stock replenishments will provide solid support for rebar and wire rod prices. The improvement in funding for non-real-estate projects will positively affect the demand for rebar and wire rod. It is expected that rebar and wire rod prices in the Chinese domestic market will edge up in the coming week.
As of September 22, rebar futures at Shanghai Futures Exchange are standing at RMB 3,185/mt ($449/mt), increasing by RMB 49/mt ($6.9/mt) or 1.6 percent since September 15, while up 0.85 percent compared to the previous trading day, September 19.
Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
Rebar prices in local markets
| Spec. (mm) - Category | City | Price (RMB/mt) | Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
| 25 - HRB400 | Beijing | 3,200 | 450.0 | 20 | 2.5 |
| Guangzhou | 3,360 | 472.5 | 60 | 8.1 | |
| Shanghai | 3,210 | 451.4 | 40 | 5.3 | |
| Average price | 3,257 | 458.0 | 40 | 5.3 |
All prices include 13 percent VAT and all prices are ex-warehouse.
Wire rod prices in local markets
| Spec. (mm) - Category | City | Price (RMB/mt) |
Price ($/mt) | Weekly change (RMB/mt) |
Weekly change ($/mt) |
| 6.5 - HPB300 | Beijing | 3,710 | 521.7 | 40 | 5.3 |
| Guangzhou | 3,650 | 513.3 | 60 | 8.1 | |
| Shanghai | 3,700 | 520.3 | 40 | 5.3 | |
| Average price | 3,687 | 518.4 | 47 | 6.2 | |
| 8 - HPB300 | Beijing | 3,490 | 490.8 | 40 | 5.3 |
| Guangzhou | 3,590 | 504.9 | 60 | 8.1 | |
| Shanghai | 3,410 | 479.5 | 40 | 5.3 | |
| Average price | 3,497 | 491.7 | 47 | 6.2 |
All prices include 13 percent VAT and all prices are ex-warehouse.
$1 = RMB 7.1106