Local Chinese rebar and wire rod prices move down

Monday, 12 August 2019 12:53:55 (GMT+3)   |   Shanghai
       

During the week ending August 12, 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 low-to-medium levels. On August 12, rebar futures contract (1910) offers closed at RMB 3,677/mt ($524/mt) at Shanghai Futures Exchange, down $9/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, ferrous metal futures prices in China have decreased, exerting a negative impact on rebar and wire rod prices in the spot market, with bearish sentiment prevailing among market participants. Inventories of rebar and wire rod have increased, negatively affecting the rebar and wire rod market. At the same time, due to the impact of Typhoon Lekima, demand for rebar and wire rod has been slack. It is expected that rebar and wire rod prices in the Chinese domestic market will soften in the coming week.

Wire rod prices in local Chinese market

Product name

Spec.

Category

City

Steel plant/origin

Price (RMBmt)

Price ($/mt)

Weekly Change (RMB/mt)

Wire Rod

8 mm dia.

HPB300

Shanghai

Shente

3,930

560

↓220

Beijing

Hebei Steel

4,490

640

↓140

Guangzhou

Shaoguan Steel

4,170

594

↓100

Average

-

4,197

598

↓153

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

3,930

560

↓220

Beijing

Hebei Steel

4,640

661

↓140

Guangzhou

Shaoguan Steel

4,220

601

↓100

Average

-

4,263

607

↓153

 

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

3,680

524

↓140

Beijing

Hebei Steel

3,630

517

↓150

Guangzhou

Shaoguan Steel

4,040

575

↓80

Average

3,783

539

↓123

 

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

$1 = RMB 7.02 


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