Local Chinese rebar and wire rod prices mostly increase

Monday, 23 July 2018 13:44:55 (GMT+3)   |   Shanghai
       

As of July 23, average prices of Chinese domestic rebar and wire rod have mostly increased on week-on-week basis, while transaction activity in the overall domestic rebar and wire rod market has been at medium levels. On July 23, rebar futures contract (1810) offers closed at RMB 4,011/mt ($591/mt) at Shanghai Futures Exchange, declining by $2/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, domestic rebar and wire rod prices first moved down but increased later in the week due to the rising trend of rebar futures prices as of the middle of the week. Meanwhile, inventory levels of rebar and wire rod have decreased slightly, providing support for rebar and wire rod prices. As for the coming week, rebar futures prices will likely rise further, exerting a positive influence on the rebar and wire rod market. It is expected that rebar and wire rod prices in the Chinese domestic market will move sideways 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

4,470

658

0

Beijing

Hebei Steel

5,120

754

↑20

Guangzhou

Shaoguan Steel

4,560

672

↑50

Average

-

4,717

695

↑23

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

4,470

658

0

Beijing

Hebei Steel

5,160

760

↑20

Guangzhou

Shaoguan Steel

4,590

676

↑50

Average

-

4,740

698

↑23

 

All prices include 16 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

4,130

608

↑30

Beijing

Hebei Steel

4,050

596

↑10

Guangzhou

Shaoguan Steel

4,430

652

↑50

Average

4,203

619

↑30

 

All prices include 16 percent VAT and all prices are ex-warehouse

$1 = RMB 6.79


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