During the week ending September 4, Chinese domestic rebar and wire rod prices have indicated an overall uptrend, while transaction activity in the domestic rebar and wire rod market has been at low-to-medium levels. On September 4, rebar futures contract (1801) offers closed at RMB 4,060/mt ($621/mt) at Shanghai Futures Exchange, up $30/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
In the first part of the given week, rebar and wire rod prices in the local Chinese market have declined due to impact of ferrous metal futures prices, but followed an upwards trend in the latter part of the week. Currently, rebar prices in Chinese futures market have created a new high, exerting a positive impact on rebar spot market. It is thought that rebar and wire rod prices in China will edge up further in the coming week.
Wire rod prices in local Chinese market
|
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,580 |
695 |
↑120 |
|
|
Beijing |
Hebei Steel |
4,650 |
706 |
↑150 |
|||
|
Guangzhou |
Shaoguan Steel |
4,800 |
728 |
↑100 |
|||
|
Average |
- |
4,676 |
710 |
↑123 |
|||
|
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,580 |
695 |
↑120 |
|
|
Beijing |
Hebei Steel |
4,650 |
706 |
↑150 |
|||
|
Guangzhou |
Shaoguan Steel |
4,686 |
711 |
↑100 |
|||
|
Average |
- |
4,563 |
692 |
↑123 |
All prices include 17 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 |
4,180 |
634 |
↑120 |
|
Beijing |
Hebei Steel |
4,060 |
616 |
↑140 |
|||
|
Guangzhou |
Shaoguan Steel |
4,710 |
715 |
↑90 |
|||
|
Average |
- |
4,317 |
655 |
↑117 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.54