During the week ending August 28, Chinese domestic rebar and wire rod prices have indicated diverse trends, while transaction activity in the domestic rebar and wire rod market has been at low-to-medium levels. On August 28, rebar futures contract (1801) offers closed at RMB 3,932/mt ($594/mt) at Shanghai Futures Exchange, remaining stable on dollar basis week on week due to the fluctuation of the RMB-dollar exchange rate. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, rebar prices in Guangzhou have increased, while rebar prices in other regions of the country have declined. At the same time, wire rod prices in eastern and southern China have risen, while wire rod prices in northern China have indicated declines. In the first part of the given week, rebar futures prices in China declined, exerting a negative impact on rebar and wire rod spot prices. In the latter part of the week, rebar futures prices rebounded, thereby providing support for rebar and wire rod prices in spot market. Currently, market participants are cautious on the outlook for market in the coming period. It is thought that rebar and wire rod prices in the Chinese domestic market will move sideways or indicate a slight downtrend in the week ahead.
Wire rod prices in local Chinese market
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,460 |
674 |
↑50 |
|
Beijing |
Hebei Steel |
4,500 |
680 |
↓20 |
|||
Guangzhou |
Shaoguan Steel |
4,700 |
710 |
↑100 |
|||
Average |
- |
4,553 |
688 |
↑43 |
|||
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,460 |
674 |
↑50 |
|
Beijing |
Hebei Steel |
4,500 |
680 |
↓20 |
|||
Guangzhou |
Shaoguan Steel |
4,730 |
715 |
↑100 |
|||
Average |
- |
4,563 |
689 |
↑43 |
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 |
4,060 |
613 |
↓50 |
Beijing |
Hebei Steel |
3,920 |
592 |
↓110 |
|||
Guangzhou |
Shaoguan Steel |
4,620 |
698 |
↑80 |
|||
Average |
- |
4,200 |
634 |
↓27 |
All prices include 17 percent VAT and all prices are ex-warehouse
$1 = RMB 6.62