Local Chinese rebar and wire rod prices move down

Monday, 29 July 2019 14:07:27 (GMT+3)   |   Shanghai
       

During the week ending July 29, average prices of Chinese domestic rebar and wire rod have moved down, while transaction activity in the overall domestic rebar and wire rod market has been at medium levels. On July 29, rebar futures contract (1910) offers closed at RMB 3,877/mt ($563/mt) at Shanghai Futures Exchange, down $11/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, Chinese steelmakers’ outputs of rebar and wire rod have decreased slightly due to maintenance works, while inventory levels have increased due to the ongoing slackness of demand. Rebar futures prices at Shanghai Futures Exchange (SHFE) have moved down, exerting a negative impact on rebar and wire rod prices. Currently, the high levels of iron ore prices have bolstered rebar and wire rod prices to some extent. It is expected that rebar and wire rod prices in the Chinese domestic market will edge down 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

4,190

608

↓60

Beijing

Hebei Steel

4,700

682

↓50

Guangzhou

Shaoguan Steel

4,330

628

↓10

Average

-

4,407

640

↓40

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

4,190

608

↓60

Beijing

Hebei Steel

4,850

704

↓40

Guangzhou

Shaoguan Steel

4,380

636

↓10

Average

-

4,473

649

↓37

 

All prices include 13 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

3,940

572

↓60

Beijing

Hebei Steel

3,890

565

↓70

Guangzhou

Shaoguan Steel

4,170

605

↓10

Average

4,000

581

↓47

 

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

$1 = RMB 6.89 


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