Local Chinese rebar and wire rod prices move on an upward trend

Monday, 11 February 2019 13:54:18 (GMT+3)   |   Shanghai
       

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)

Wire Rod

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

Wire Rod

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 


Similar articles

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Local Chinese longs prices up $7-8/mt amid improved demand

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Lebanese rebar market quiet while import prices drop

22 Mar | Longs and Billet

Iskenderun-based Turkish mill cuts longs prices as week ends

22 Mar | Longs and Billet

Partial stability in southern European longs market, Easter closures expected

22 Mar | Longs and Billet

Romanian longs prices stable amid ongoing optimism for demand

21 Mar | Longs and Billet

Turkey’s longs export prices stable for now, demand weak

20 Mar | Longs and Billet