As of June 24, average prices of Chinese domestic rebar and wire rod have increased week on week, while transaction activity in the overall domestic rebar and wire rod market has been at low-to-medium levels. On June 24, rebar futures contract (1910) offers closed at RMB 3,940/mt ($573/mt) at Shanghai Futures Exchange, up $38/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
At the beginning of the given week, due to sharp declines seen in semi-finished steel prices and slack demand, rebar and wire rod prices in spot market decreased. Later in the given week, rebar futures prices at Shanghai Futures Exchange (SHFE) rebounded, exerting a positive impact on rebar and wire rod prices in the spot market. Meanwhile, steelmakers’ profitability has shrunk, resulting in some reductions in rebar and wire rod outputs, while the high levels of iron ore prices will continue to negatively impact production of rebar and wire rod. Furthermore, demand for rebar and wire rod is expected to remain slack. It is expected that rebar and wire rod prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Wire rod prices in local Chinese market
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
8 mm dia. |
HPB300 |
Shanghai |
Shente |
4,190 |
609 |
↑90 |
|
Beijing |
Hebei Steel |
4,560 |
663 |
↑90 |
|||
Guangzhou |
Shaoguan Steel |
4,300 |
625 |
↑80 |
|||
Average |
- |
4,350 |
632 |
↑87 |
|||
6.5 mm dia. |
HPB300 |
Shanghai |
Shente |
4,190 |
609 |
↑90 |
|
Beijing |
Hebei Steel |
4,700 |
683 |
↑90 |
|||
Guangzhou |
Shaoguan Steel |
4,350 |
632 |
↑80 |
|||
Average |
- |
4,413 |
641 |
↑87 |
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 |
3,950 |
574 |
↑90 |
Beijing |
Hebei Steel |
3,790 |
551 |
↑70 |
|||
Guangzhou |
Shaoguan Steel |
4,150 |
603 |
↑80 |
|||
Average |
- |
3,963 |
576 |
↑80 |
All prices include 13 percent VAT and all prices are ex-warehouse
$1 = RMB 6.88