Local Chinese rebar and wire rod prices decrease

Monday, 14 January 2019 13:59:11 (GMT+3)   |   Shanghai
       

During the week ending January 14, average prices of Chinese domestic rebar and wire rod have seen an overall downtrend, while transaction activity in the overall domestic rebar and wire rod market has been at low-to-medium levels. On January 14, rebar futures contract (1905) offers closed at RMB 3,575/mt ($528/mt) at Shanghai Futures Exchange, up $14/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, although a slight increase in rebar futures prices at Shanghai Futures Exchange (SHFE) has provided some support for rebar and wire rod prices in the domestic spot market, demand from downstream users has been slack, resulting in decreases in rebar and wire rod prices. Meanwhile, most traders in the rebar and wire rod market have so far maintained a wait-and-see stance as regards inventory replenishment ahead of the Chinese New Year (February 2-10). However, inventory replenishment is expected to pick up in the coming period and will bolster prices in the rebar and wire rod market. It is expected that rebar and wire rod prices in the Chinese domestic market will increase 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)

Wire Rod

8 mm dia.

HPB300

Shanghai

Shente

3,960

585

↓40

Beijing

Hebei Steel

4,400

650

0

Guangzhou

Shaoguan Steel

4,080

603

↓60

Average

-

4,147

613

↓33

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

3,960

585

↓40

Beijing

Hebei Steel

4,460

659

0

Guangzhou

Shaoguan Steel

4,130

610

↓60

Average

-

4,183

618

↓33

 

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

3,770

557

↓40

Beijing

Hebei Steel

3,680

544

↓10

Guangzhou

Shaoguan Steel

4,200

620

↓60

Average

3,883

574

↓37

 

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

$1 = RMB 6.77


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