During the week ending May 21, average prices of Chinese domestic rebar and wire rod have decreased, while transaction activity in the overall domestic rebar and wire rod market has been at low-to-medium levels. On May 21, rebar futures contract (1810) offers closed at RMB 3,589/mt ($562/mt) at Shanghai Futures Exchange, down $16/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, transaction activity in the domestic rebar and wire rod market has slackened and is now at low-to-medium levels, while hot temperatures and rainy weather have negatively impacted demand for rebar and wire rod. Rebar futures prices at Shanghai Futures Exchange (SHFE) have decreased in the latter part of the given week, exerting negative pressure on rebar and wire rod prices in the spot market. Market participants are now more cautious on the future prospects for the market, even though inventory levels of rebar and wire rod have continued to decreased. It is expected that rebar and wire rod prices in the Chinese domestic market will edge down further in the coming week.
Wire rod prices in local Chinese market
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,370 |
684 |
↓10 |
|
Beijing |
Hebei Steel |
4,950 |
775 |
↓10 |
|||
Guangzhou |
Shaoguan Steel |
4,310 |
674 |
↓40 |
|||
Average |
- |
4,543 |
711 |
↓20 |
|||
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,370 |
684 |
↓10 |
|
Beijing |
Hebei Steel |
4,990 |
781 |
↓10 |
|||
Guangzhou |
Shaoguan Steel |
4,340 |
679 |
↓40 |
|||
Average |
- |
4,567 |
715 |
↓20 |
All prices include 16 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 |
4,010 |
628 |
↓20 |
Beijing |
Hebei Steel |
3,920 |
613 |
↓50 |
|||
Guangzhou |
Shaoguan Steel |
4,310 |
674 |
↓50 |
|||
Average |
- |
4,080 |
638 |
↓40 |
All prices include 16 percent VAT and all prices are ex-warehouse
$1 = RMB 6.39