During the week ending February 12, Chinese domestic rebar and wire rod prices have mostly moved sideways, with only slight price rises seen in southern China. Transaction activity in the overall domestic rebar and wire rod market has been at very low levels. On February 12, rebar futures contract (1805) offers closed at RMB 3,918/mt ($619/mt) at Shanghai Futures Exchange, down $12/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
As the Chinese New Year holiday (February 15-21) has drawn closer, most participants in the rebar and wire rod market have already exited the market and so trading activity has been at very low levels, while prices have been mainly stable. It is thought that the domestic rebar and wire rod market will continue its stable trend before and during the holiday, while a rising trend is foreseen for the period after the holiday.
Wire rod prices in local Chinese market
|
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,100 |
648 |
0 |
|
|
Beijing |
Hebei Steel |
4,780 |
755 |
0 |
|||
|
Guangzhou |
Shaoguan Steel |
4,270 |
675 |
0 |
|||
|
Average |
- |
4,383 |
692 |
0 |
|||
|
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,100 |
648 |
0 |
|
|
Beijing |
Hebei Steel |
4,820 |
761 |
0 |
|||
|
Guangzhou |
Shaoguan Steel |
4,300 |
679 |
0 |
|||
|
Average |
- |
4,407 |
696 |
0 |
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 |
3,900 |
616 |
0 |
|
Beijing |
Hebei Steel |
4,000 |
632 |
0 |
|||
|
Guangzhou |
Shaoguan Steel |
4,310 |
681 |
↑10 |
|||
|
Average |
- |
4,070 |
643 |
↑3 |
All prices include 17 percent VAT and all prices are ex-warehouse
$1 = RMB 6.33