During the week ending March 27, Chinese domestic rebar and wire rod prices have moved on a declining trend, while transaction activity in the domestic rebar and wire rod market has been at low-to-medium levels. On March 27, rebar futures contract (1705) offers closed at RMB 3,309/mt ($481/mt) at Shanghai Futures Exchange, down $40/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, weak sentiment has prevailed in the market as ferrous metal futures prices in China have declined significantly, exerting negative pressure on rebar and wire rod prices in the domestic spot market. Meanwhile, as for the current week, liquidity is expected to be tighter approaching the end of the month, while it is expected that domestic rebar and wire rod prices in China will likely fluctuate or move down slightly in the coming week.
Wire rod prices in local Chinese market
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
8 mm dia. | HPB300 | Shanghai | Shente | 3,800 | 553 | ↓150 | |
Beijing | Hebei Steel | 3,900 | 568 | ↓100 | |||
Guangzhou | Shaoguan Steel | 4,130 | 601 | ↓90 | |||
Average | - | 3,943 | 574 | ↓113 | |||
6.5 mm dia. | HPB300 | Shanghai | Shente | 3,800 | 553 | ↓150 | |
Beijing | Hebei Steel | 3,900 | 568 | ↓100 | |||
Guangzhou | Shaoguan Steel | 4,160 | 606 | ↓90 | |||
Average | - | 3,953 | 575 | ↓113 |
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 | 3,580 | 521 | ↓170 |
Beijing | Hebei Steel | 3,600 | 524 | ↓190 | |||
Guangzhou | Shaoguan Steel | 4,130 | 601 | ↓40 | |||
Average | - | 3,770 | 549 | ↓133 |
All prices include 17 percent VAT and all prices are ex-warehouse
$1 = RMB 6.87