Local Chinese rebar and wire rod prices mostly increase

During the week ending July 30, average prices of Chinese domestic rebar and wire rod have mostly increased, while transaction activity in the overall domestic rebar and wire rod market has been at medium levels. On July 30, rebar futures contract (1810) offers closed at RMB 4,130/mt ($606/mt) at Shanghai Futures Exchange, up $15/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, rebar and wire rod prices in China have moved up due to better demand in most regions and significant increases in rebar futures prices. Moreover, inventories have mostly decreased except in northern China, also providing support for rebar and wire rod prices. It is expected that rebar and wire rod prices in the Chinese domestic market will likely move up in the coming week.

Wire rod prices in local Chinese market

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

Rebar prices in local Chinese market

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

$1 = RMB 6.82