Local Chinese rebar and wire rod prices increase

Monday, 22 July 2019 14:33:46 (GMT+3)   |   Shanghai
       

During the week ending July 22, average prices of Chinese domestic rebar and wire rod have moved up, while transaction activity in the overall domestic rebar and wire rod market has been at low-to-medium levels. On July 22, rebar futures contract (1910) offers closed at RMB 3,948/mt ($574/mt) at Shanghai Futures Exchange, down $12/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.  

Rebar and wire rod prices in the Chinese domestic market have moved upwards due to the rises seen in rebar futures prices at Shanghai Futures Exchange (SHFE) until the middle of the given week. However, rebar futures prices have edged down on July 22, which will exert a negative impact on the rebar and wire rod market. Iron ore prices are still at high levels, providing solid support for rebar and wire rod prices in the spot market. Meanwhile, inventories of rebar and wire rod have increased, reflecting the lack of any significant improvement in demand for these long steel products. It is thought that rebar and wire rod prices will likely fluctuate within a limited range 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

4,250

618

↑40

Beijing

Hebei Steel

4,750

690

↑50

Guangzhou

Shaoguan Steel

4,340

631

↑20

Average

-

4,447

646

↑37

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

4,250

618

↑40

Beijing

Hebei Steel

4,890

711

↑50

Guangzhou

Shaoguan Steel

4,390

638

↑20

Average

-

4,510

656

↑37

 

All prices include 13 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

4,000

581

↑30

Beijing

Hebei Steel

3,960

576

↑40

Guangzhou

Shaoguan Steel

4,180

608

↑20

Average

4,047

588

↑30

 

All prices include 13 percent VAT and all prices are ex-warehouse

$1 = RMB 6.88 


Most Recent Related Articles

Inventories of main finished steel products in China down 6.3 percent

Long steel line at Fangchenggang production base was put into operation

Ex-China wire rod prices up sharply amid good local demand, foreign buyers resist

China’s rebar output switches to rising trend in April

MOC: Average steel prices in China edge up slightly last week