Local Chinese rebar and wire rod prices mostly move up

Monday, 30 September 2019 14:40:15 (GMT+3)   |   Shanghai
       

During the week ending September 30, average prices of Chinese domestic rebar and wire rod have mostly moved up, while transaction activity in the overall domestic rebar and wire rod market has been at low-to-medium levels.

On September 30, rebar futures contract (2001) offers closed at RMB 3,470/mt ($491/mt) at Shanghai Futures Exchange, down $5/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.  

Rebar prices in local markets

Product name

Specification (mm)

Category

City

Steel plant/place of origin

Price (RMB/mt)

Price 
($/mt)

Weekly change 
(RMB/mt)

Weekly change 
($/mt)

Rebar

25

HRB400

Beijing

Hebei Steel

3,640

514.6

+10

+1.4

Guangzhou

Shaoguan Steel

4,190

592.4

+110

+15.6

Shanghai

Shente

3,810

538.7

+60

+8.5

Average price

 

3,880.0

548.6

+60

+8.5

    All prices include 13 percent VAT and all prices are ex-warehouse.

 

Wire rod prices in local markets

Product name

Specification (mm)

Category

City

Steel plant/place of origin

Price

(RMB/mt)

Price ($/mt)

Weekly

change (RMB/mt)

Weekly change 
($/mt)

Wire rod

6.5

HPB300

Beijing

Hebei Steel

4,580

647.5

-20

-2.8

Guangzhou

Shaoguan Steel

4,250

600.9

+70

+9.9

Shanghai

Shente Steel

4,110

581.1

+60

+8.5

Average price

 

4,313.3

609.8

+37

+5.2

8

HPB300

Beijing

Hebei Steel

4,430

626.3

-20

-2.8

Guangzhou

Shaoguan Steel

4,200

593.8

+70

+9.9

Shanghai

Shente Steel

4,110

581.1

+60

+8.5

Average price

 

4,246.7

600.4

+37

+5.2

    All prices include 13 percent VAT and all prices are ex-warehouse.

During the given week, since it is the last trading week ahead of the National Day holiday (October 1-7), downstream users have built up stocks, while tighter production restrictions has impacted overall availability in the market, exerting a positive impact on prices. Inventory levels of rebar and wire rod have decreased, positively affecting market players’ sentiments. It is expected that rebar and wire rod prices in the Chinese domestic market will edge up in the period after the holiday. 

$1=RMB 7.073


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