During the week ending October 28, average prices of Chinese domestic rebar have edged up, while wire rod prices have moved down, while transaction activity in the overall domestic rebar and wire rod market has been at low-to-medium levels.
On October 28, rebar futures contract (2001) offers closed at RMB 3,327/mt ($470.2/mt) at Shanghai Futures Exchange, up $5/mt or 1.12 percent week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
Rebar prices in local markets
|
Product name |
Specification (mm) |
Category |
City |
Steel plant/place of origin |
Price (RMB/mt) |
Price |
Weekly change |
Weekly change |
|
25 |
HRB400 |
Beijing |
Hebei Steel |
3,650 |
515.8 |
30 |
3.7 |
|
|
Guangzhou |
Shaoguan Steel |
4,150 |
586.5 |
-20 |
-3.5 |
|||
|
Shanghai |
Shente |
3,690 |
521.5 |
40 |
5.1 |
|||
|
Average price |
|
3,830.0 |
541.3 |
17 |
1.7 |
All prices include 13 percent VAT and all prices are ex-warehouse.
Wire rod prices in local markets
|
Product name |
Specification (mm) |
Category |
City |
Steel plant/place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change |
|
6.5 |
HPB300 |
Beijing |
Hebei Steel |
4,390 |
620.4 |
-70 |
-10.6 |
|
|
Guangzhou |
Shaoguan Steel |
4,190 |
592.1 |
-20 |
-3.5 |
|||
|
Shanghai |
Shente Steel |
4,040 |
570.9 |
30 |
3.6 |
|||
|
Average price |
|
4,206.7 |
594.5 |
-20 |
-3.5 |
|||
|
8 |
HPB300 |
Beijing |
Hebei Steel |
4,240 |
599.2 |
-70 |
-10.6 |
|
|
Guangzhou |
Shaoguan Steel |
4,130 |
583.7 |
-20 |
-3.5 |
|||
|
Shanghai |
Shente Steel |
4,040 |
570.9 |
30 |
3.6 |
|||
|
Average price |
|
4,136.7 |
584.6 |
-20 |
-3.5 |
All prices include 13 percent VAT and all prices are ex-warehouse.
SteelOrbis has been informed that ex-China HRB400 grade 20 mm rebar export prices have been stable at $440-450/mt FOB, with Chinese wire rod export prices edging down by $10/mt to $450-460/mt FOB, compared to prices one week ago.
During the given week, rebar futures prices at the Shanghai Futures Exchange have bottomed up, positively affecting market sentiment and bolstering rebar and wire rod prices in the domestic spot market. Meanwhile, rebar and wire rod inventories have decreased, even resulting in a supply shortage for some specifications, providing support for rebar and wire rod prices. Some steelmakers have been required to halt production this week to ensure good air quality, which will help lower inventory and exert a positive impact on sentiment. It is expected that rebar and wire rod prices in the Chinese domestic market will edge up slightly in the coming week.
$1 = RMB 7.076