Local Chinese rebar and wire rod prices increase amid better demand

Monday, 04 November 2019 14:31:18 (GMT+3)   |   Shanghai
       

During the week ending November 4, average Chinese domestic rebar and wire rod prices have moved up, though prices of wire rod in Beijing have moved down, while transaction activity in the overall domestic rebar and wire rod market has improved and is currently at medium levels.

Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.  

Rebar prices in local markets

Product name

Specification (mm)

Category

City

Steel plant/place of origin

Price (RMB/mt)

Price 
($/mt)

Weekly change 
(RMB/mt)

Weekly change 
($/mt)

Rebar

25

HRB400

Beijing

Hebei Steel

3,680

522.9

+30

+7

Guangzhou

Shaoguan Steel

4,220

599.6

+70

+13.1

Shanghai

Shente

3,740

531.4

+50

+9.9

Average price

 -

3,880

551.3

+50

+10

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

 

Wire rod prices in local markets

Product name

Specification (mm)

Category

City

Steel plant/place of origin

Price

(RMB/mt)

Price ($/mt)

Weekly

change (RMB/mt)

Weekly change 
($/mt)

Wire rod

6.5

HPB300

Beijing

Hebei Steel

4,360

619.5

-30

-0.9

Guangzhou

Shaoguan Steel

4,240

602.4

+50

+10.3

Shanghai

Shente Steel

4,090

581.1

+50

+10.2

Average price

 -

4,230

601

+23

+6.5

8

HPB300

Beijing

Hebei Steel

4,210

598.2

-30

-1

Guangzhou

Shaoguan Steel

4,180

593.9

+50

+10.3

Shanghai

Shente Steel

4,090

581.1

+50

+10.2

Average price

 -

4,160

591.1

+23

+6.5

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

During the given week, rebar futures prices at Shanghai Futures Exchange have edged up, exerting a positive impact on rebar and wire rod prices in spot market. On November 4, rebar futures contract (2001) offers closed at RMB 3,382/mt ($470.2/mt) at Shanghai Futures Exchange, up $11/mt or 1.65 percent week on week. Meanwhile, demand from downstream users has seen some improvements due to booming construction activity for infrastructure projects. However, downstream users are still cautious as regards building up rebar and wire rod stocks, resulting in comparatively low inventory levels, which will bolster rebar and wire rod prices to some extent in the coming period. Supply pressure will be low as many regions have implemented production restriction measures for the winter season. It is thought that rebar and wire rod prices in the Chinese domestic market will likely edge up in the coming week

Ex-China HRB400 grade 20 mm rebar export price has stayed unchanged from last week -  at $440-450/mt FOB and Chinese export offer prices for wire rod have also moved sideways, at $450-460/mt FOB, SteelOrbis was informed on Monday, November 4. 

$1=RMB 7.038


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