Local Chinese rebar and wire rod prices increase

During the week ending September 10, average prices of Chinese domestic rebar and wire rod have increased, while transaction activity in the overall domestic rebar and wire rod market has been at medium levels. On September 10, rebar futures contract (1901) offers closed at RMB 4,284/mt ($624/mt) at Shanghai Futures Exchange, up $25/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 and wire rod prices in China have increased amid news relating to production restrictions. Meanwhile, rebar futures prices at Shanghai Futures Exchange (SHFE) have also edged up, exerting a positive impact on rebar and wire rod prices in the Chinese domestic market. Production restrictions will continue in the coming period, negatively affecting rebar and wire rod output. It is expected that rebar and wire rod in the Chinese domestic market will continue to edge up 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 6.86