Local Chinese rebar and wire rod prices decrease

During the week ending November 12, 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 November 12, rebar futures contract (1901) offers closed at RMB 3,848/mt ($554.0/mt) at Shanghai Futures Exchange, down $34/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, rebar futures prices at Shanghai Futures Exchange (SHFE) have moved down, exerting a negative impact on rebar and wire rod prices in the spot market in China. Cold weather conditions have resulted in reduced demand for rebar and wire rod, especially in northern China. Meanwhile demand in eastern China will be better as construction in this region will recover as the China International Import Expo (CIIE) has concluded. It is expected that rebar and wire rod prices in the Chinese domestic market will edge down slightly in the coming week.

Wire rod prices in local Chinese market

All prices include 16 percent VAT and all prices are ex-warehouse.

Rebar prices in local Chinese market

All prices include 16 percent VAT and all prices are ex-warehouse

$1 = RMB 6.96