As of October 15, 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 October 15, rebar futures contract (1901) offers closed at RMB 4,150/mt ($599/mt) at Shanghai Futures Exchange, up $23/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, rebar and wire rod prices have mostly seen a rebounding trend, though rebar prices seeing slight decrease in northern China. The ferrous metal futures prices have bottomed up, exerting a positive impact on rebar and wire rod prices. Meanwhile, downstream users have been more willing to conclude purchases for rebar and wire rod, also bolstering their prices. However, market participants have shown cautiousness towards prospect for the future rebar and wire rod market as prices have been at comparatively high level. It is expected that rebar and wire rod prices in the Chinese domestic market will edge up slightly in the coming week.
Wire rod prices in local Chinese market
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,840 |
698 |
↑30 |
|
Beijing |
Hebei Steel |
5,200 |
750 |
↓10 |
|||
Guangzhou |
Shaoguan Steel |
4,910 |
709 |
↑150 |
|||
Average |
- |
4,984 |
719 |
↑57 |
|||
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,840 |
698 |
↑30 |
|
Beijing |
Hebei Steel |
5,240 |
756 |
↓10 |
|||
Guangzhou |
Shaoguan Steel |
4,960 |
737 |
↑170 |
|||
Average |
- |
5,013 |
745 |
↑63 |
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 |
4,640 |
670 |
↑60 |
Beijing |
Hebei Steel |
4,380 |
632 |
↑20 |
|||
Guangzhou |
Shaoguan Steel |
4,850 |
700 |
↑140 |
|||
Average |
- |
4,623 |
667 |
↑73 |
All prices include 16 percent VAT and all prices are ex-warehouse
$1 = RMB 6.93