Local Chinese rebar and wire rod market sees improved transaction activity

During the week ending June 13, Chinese domestic rebar and wire rod prices have indicated an upward trend, while transaction activity in the overall domestic rebar and wire rod market has improved and is now at medium levels. On June 13, rebar futures contract (1610) offers closed at RMB 2,170/mt ($330/mt) at Shanghai Futures Exchange, up $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, replenishment before the Dragon Boat Festival Holiday (June 9-12) stimulated demand for rebar and wire rod, which has boosted both transaction activities and prices. After the sharp decreases in the previous period, rebar and wire rod prices have started to move up from the bottom. However, amid the current traditional offseason for rebar and wire rod, prices are not expected to continue their rising trend. It is thought that rebar and wire rod prices in the Chinese domestic market will likely move sideways in the coming week

 

All prices include 17 percent VAT and all prices are ex-warehouse

 

 

All prices include 17 percent VAT and all prices are ex-warehouse.

$1 = RMB 6.58