Transaction activity at low levels in local Chinese rebar and wire rod market

Monday, 05 June 2017 14:16:07 (GMT+3)   |   Shanghai
       

During the week ending June 5, Chinese domestic rebar and wire rod prices have indicated an overall downward trend, while transaction activity in the domestic rebar and wire rod market has been at low levels. On June 5, rebar futures contract (1710) offers closed at RMB 2,939/mt ($432/mt) at Shanghai Futures Exchange, down $58/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, rebar and iron ore futures prices in China have indicated significant decreases, contributing to the declining trend in the domestic rebar and wire rod market and to the wait-and-see mood among market players. Currently, rainy weather is widespread in China, while temperatures are high, negatively affecting demand from downstream users. It is thought that rebar and wire rod prices in the Chinese domestic market will continue to soften 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

3,730

548

↓150

Beijing

Hebei Steel

3,950

580

↓30

Guangzhou

Shaoguan Steel

3,890

571

↓50

Average

-

3,857

566

↓77

Wire Rod

6.5 mm dia.

HPB300

Shanghai

Shente

3,730

548

↓150

Beijing

Hebei Steel

3,950

580

↓30

Guangzhou

Shaoguan Steel

3,920

576

↓50

Average

-

3,867

568

↓77


 
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

3,670

539

↓140

Beijing

Hebei Steel

3,590

527

↓130

Guangzhou

Shaoguan Steel

4,000

587

↓80

Average

3,753

551

↓117


 
All prices include 17 percent VAT and all prices are ex-warehouse
 
$1 = RMB 6.81

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