During the week ending November 27, Chinese domestic rebar and wire rod prices have continued to move upwards, while transaction activity in the domestic rebar and wire rod market has been at medium levels. On November 27, rebar futures contract (1805) offers closed at RMB 3,833/mt ($581/mt) at Shanghai Futures Exchange, up $24/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
During the given week, with support from increases in rebar futures prices at Shanghai Futures Exchange, rebar and wire rod prices in the domestic spot market have also risen, with additional support from some tightness on the supply side. At the same time, transaction activities are at medium levels, boosting optimism among market participants. Meanwhile, inventory levels in the market have declined. It is thought that rebar and wire rod in the Chinese domestic market will likely continue their upward trend in the coming week.
Wire rod prices in local Chinese market
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,700 |
712 |
↑190 |
|
Beijing |
Hebei Steel |
4,900 |
742 |
↑150 |
|||
Guangzhou |
Shaoguan Steel |
4,800 |
727 |
↑150 |
|||
Average |
- |
4,800 |
727 |
↑163 |
|||
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,700 |
712 |
↑190 |
|
Beijing |
Hebei Steel |
4,900 |
742 |
↑150 |
|||
Guangzhou |
Shaoguan Steel |
4,830 |
732 |
↑150 |
|||
Average |
- |
4,810 |
729 |
↑163 |
All prices include 17 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 |
4,460 |
676 |
↑270 |
Beijing |
Hebei Steel |
4,180 |
633 |
↑160 |
|||
Guangzhou |
Shaoguan Steel |
4,760 |
721 |
↑160 |
|||
Average |
- |
4,467 |
677 |
↑197 |
All prices include 17 percent VAT and all prices are ex-warehouse
$1 = RMB 6.60