During the week ending February 11, average prices of Chinese domestic rebar and wire rod have moved on an overall upward trend, while transaction activity in the overall domestic rebar and wire rod market has been at low levels. On February 11, rebar futures contract (1905) offers closed at RMB 3,825/mt ($563/mt) at Shanghai Futures Exchange, up $17/mt as compared to price levels recorded two weeks ago. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
On the first trading day after the long Chinese New Year holiday, rebar futures prices at Shanghai Futures Exchange (SHFE) have increased, providing support for the upward movement of rebar and wire rod prices in the domestic spot market, where sentiment is upbeat. However, transaction activities are still at low levels as only a few players have returned to the market so far. Demand will likely see some improvement in the coming week or later. It is expected that rebar and wire rod prices in the Chinese domestic market will rise further in the week ahead.
Wire rod prices in local Chinese market
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (28.01.2019) (RMB/mt) |
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,010 |
591 |
↑40 |
|
Beijing |
Hebei Steel |
4,410 |
649 |
↑20 |
|||
Guangzhou |
Shaoguan Steel |
4,050 |
596 |
↑50 |
|||
Average |
- |
4,157 |
612 |
↑37 |
|||
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,010 |
591 |
↑40 |
|
Beijing |
Hebei Steel |
4,470 |
658 |
↑20 |
|||
Guangzhou |
Shaoguan Steel |
4,100 |
604 |
↑50 |
|||
Average |
- |
4,193 |
618 |
↑37 |
All prices include 16 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 |
3,820 |
563 |
↑40 |
Beijing |
Hebei Steel |
3,830 |
564 |
↑40 |
|||
Guangzhou |
Shaoguan Steel |
4,180 |
616 |
↑50 |
|||
Average |
- |
3,943 |
581 |
↑43 |
All prices include 16 percent VAT and all prices are ex-warehouse
$1 = RMB 6.79