Local Chinese rebar and wire rod prices move up further

Monday, 27 November 2017 14:46:01 (GMT+3)   |   Shanghai
       

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)

Wire Rod

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

Wire Rod

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


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