During the past week ending June 23, average Chinese domestic rebar and wire rod prices have edged down slightly amid weak demand, though supply has also declined, resulting in limited changes in overall changes.
The average rebar price has decreased by RMB 7/mt ($1/mt) compared to June 16, while the average 6.5 mm HPB 300 wire rod price has also declined by RMB 7/mt ($1/mt). Rebar prices have remained unchanged compared to the previous trading day, June 20.
During the given week, rebar and wire rod prices in the Chinese domestic market have fluctuated in a limited range amid the widespread rainy weather in many regions of China. Demand for rebar and wire rod has been sluggish, while inventory has been at relatively low levels. The second typhoon of the current year, Sepat, is forming and is going to affect the coastal areas of China. It is thought that rebar and wire rod prices in the Chinese domestic market will fluctuate within a limited range at low levels.
As of June 23, rebar futures at Shanghai Futures Exchange are standing at RMB 2,995/mt ($416/mt), increasing by RMB 5/mt ($0.7/mt) or 0.2 percent since June 16, while up 0.03 percent compared to the previous trading day, June 20.
Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
Rebar prices in local markets
| Spec. (mm) - Category | City | Price (RMB/mt) | Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
| 25 - HRB400 | Beijing | 3180 | 443.5 | 0 | 0.5 |
| Guangzhou | 3160 | 440.7 | -20 | -2.3 | |
| Shanghai | 3060 | 426.7 | 0 | 0.5 | |
| Average price | 3133.3 | 436.9 | -7 | -0.4 |
All prices include 13 percent VAT and all prices are ex-warehouse.
Wire rod prices in local markets
| Spec. (mm) - Category | City | Price (RMB/mt) |
Price ($/mt) | Weekly change (RMB/mt) |
Weekly change ($/mt) |
| 6.5 - HPB300 | Beijing | 3,670 | 511.8 | 0 | 0.6 |
| Guangzhou | 3,420 | 476.9 | -20 | -2.3 | |
| Shanghai | 3,580 | 499.2 | 0 | 0.6 | |
| Average price | 3,556.7 | 496.0 | -7 | -0.4 | |
| 8 - HPB300 | Beijing | 3,450 | 481.1 | -10 | -0.9 |
| Guangzhou | 3,360 | 468.6 | -20 | -2.3 | |
| Shanghai | 3,290 | 458.8 | 0 | 0.5 | |
| Average price | 3,366.7 | 469.5 | -10 | -0.9 |
All prices include 13 percent VAT and all prices are ex-warehouse.
$1 = RMB 7.171
