During the past week ending July 20, average Chinese domestic rebar prices have moved up slightly amid increasing rebar futures prices and declining outputs due to maintenance works.
The average rebar price has increased by RMB 30/mt ($4.4/mt) compared to July 13, while the average 6.5 mm HPB 300 wire rod price has risen by RMB 20/mt ($2.9/mt). Rebar prices have decreased by RMB 14/mt ($2.1/mt) compared to the previous trading day, July 17.
During the given week, rebar and wire rod prices in the Chinese domestic market have fluctuated within a limited range amid declining production. Some rebar and wire rod producers have implemented maintenance works, thereby reducing outputs and easing the pressure on prices. Inventories have declined in the first round of destocking in the traditional off-season. However, demand for rebar and wire rod from downstream users has remained slack, which will exert a negative impact on prices. It is thought that rebar and wire rod prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
As of July 20, rebar futures at Shanghai Futures Exchange are standing at RMB 3,096/mt ($449/mt), increasing by RMB 42/mt ($6.2/mt) or 1.4 percent since July 13, while decreasing by 0.77 percent compared to the previous trading day, July 17.
Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
Rebar prices in local markets
| Spec. (mm) - Category | City | Price (RMB/mt) | Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
| 25 - HRB400 | Beijing | 3140 | 462.1 | 30 | 4.5 |
| Guangzhou | 3330 | 490.1 | 60 | 9.0 | |
| Shanghai | 3110 | 457.7 | 0 | 0.1 | |
| Average price | 3193.3 | 470.0 | 30 | 4.6 |
All prices include 13 percent VAT and all prices are ex-warehouse.
Wire rod prices in local markets
| Spec. (mm) - Category | City | Price (RMB/mt) |
Price ($/mt) | Weekly change (RMB/mt) |
Weekly change ($/mt) |
| 6.5 - HPB300 | Beijing | 3760 | 553.3 | -20 | -2.8 |
| Guangzhou | 3620 | 532.7 | 70 | 10.5 | |
| Shanghai | 3570 | 525.4 | 10 | 1.6 | |
| Average price | 3650.0 | 537.2 | 20 | 3.1 | |
| 8 - HPB300 | Beijing | 3540 | 521.0 | -20 | -2.8 |
| Guangzhou | 3560 | 523.9 | 70 | 10.5 | |
| Shanghai | 3350 | 493.0 | 10 | 1.6 | |
| Average price | 3483.3 | 512.6 | 20 | 3.1 |
All prices include 13 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.7948
