Local Chinese rebar and wire rod prices mostly increase

Monday, 15 October 2018 14:31:54 (GMT+3)   |   Shanghai
       

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)

Wire Rod

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

Wire Rod

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

 


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