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 $5/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
Rebar prices in local markets
|
Product name |
Specification (mm) |
Category |
City |
Steel plant/place of origin |
Price (RMB/mt) |
Price |
Weekly change |
Weekly change |
|
25 |
HRB400 |
Beijing |
Hebei Steel |
3,640 |
514.6 |
+10 |
+1.4 |
|
|
Guangzhou |
Shaoguan Steel |
4,190 |
592.4 |
+110 |
+15.6 |
|||
|
Shanghai |
Shente |
3,810 |
538.7 |
+60 |
+8.5 |
|||
|
Average price |
|
3,880.0 |
548.6 |
+60 |
+8.5 |
All prices include 13 percent VAT and all prices are ex-warehouse.
Wire rod prices in local markets
|
Product name |
Specification (mm) |
Category |
City |
Steel plant/place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change |
|
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