During the week ending August 19, Chinese domestic rebar and wire rod prices have indicated an upward trend, while transaction activity in the domestic rebar and wire rod market has been better compared to the previous week and is now at medium levels. On August 19, rebar futures contract (1910) offers closed at RMB 3,747/mt ($532.0/mt) at Shanghai Futures Exchange, up $11/mt week on week. Average domestic rebar and wire rod prices in China's main markets are presented in the tables below.
Rebar prices in local markets
|
Product name |
Specification (mm) |
Category |
City |
Steel plant/place of origin |
Price (RMB/mt) |
Price |
Weekly change |
Weekly change |
|
25 |
HRB400 |
Beijing |
Hebei Steel |
3,650 |
518.5 |
+20 |
+3 |
|
|
Guangzhou |
Shaoguan Steel |
4,050 |
575.3 |
+10 |
+1 |
|||
|
Shanghai |
Shente |
3,740 |
531.3 |
+60 |
+9 |
|||
|
Average price |
- |
3,813.3 |
541.7 |
+30 |
+4 |
Wire rod prices in local markets
|
Product name |
Specification (mm) |
Category |
City |
Steel plant/place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change |
|
6.5 |
HPB300 |
Beijing |
Hebei Steel |
4,640 |
659.1 |
0 |
0 |
|
|
Guangzhou |
Shaoguan Steel |
4,230 |
600.9 |
+10 |
+1 |
|||
|
Shanghai |
Shente Steel |
4,010 |
569.6 |
+80 |
+11 |
|||
|
Average price |
- |
4,293.3 |
609.8 |
+30 |
+4 |
|||
|
8 |
HPB300 |
Beijing |
Hebei Steel |
4,490 |
637.8 |
0 |
0 |
|
|
Guangzhou |
Shaoguan Steel |
4,180 |
593.8 |
+10 |
+1 |
|||
|
Shanghai |
Shente Steel |
4,010 |
569.6 |
+80 |
+11 |
|||
|
Average price |
- |
4,226.7 |
600.4 |
+30 |
+4 |
During the given week, local Chinese rebar and wire rod prices edged down first while moving up later amid increased transaction activities due to the rebound of rebar futures prices at Shanghai Futures Exchange (SHFE). Meanwhile, with the further environmental protection measures being implemented, the rebar and wire rod production in China has declined slightly and inventories of these products have also decreased, positively impacting rebar and wire rod prices in the market. As regards demand, there is still a certain slackness in the market and it may require further time to recover. It is thought that rebar and wire rod prices in the Chinese domestic market will likely move sideways in coming the week.
$1 = RMB 7.04