Transaction activity improves in local Chinese rebar and wire rod market

During the week ending December 5, Chinese domestic rebar and wire rod prices have mostly indicated an upward trend, while transaction activity in the domestic rebar and wire rod market has improved and is now at decent levels. On December 5, rebar futures contract (1705) offers closed at RMB 3,204/mt ($465/mt) at Shanghai Futures Exchange, down $19/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, activity at construction sites in China has accelerated and demand has increased due to warmer weather, boosting confidence among market players and resulting in decent transaction activity in the market. Meanwhile, production restrictions for environmental protection in China's northern region have provided support for rebar and wire rod prices in the spot market amid the current winter season. It is thought that rebar and wire rod prices in the Chinese domestic market will likely either indicate a slight rising trend or remain stable in the coming week.

Wire rod prices in local Chinese market

All prices include 17 percent VAT and all prices are ex-warehouse
 
Rebar prices in local Chinese market

All prices include 17 percent VAT and all prices are ex-warehouse
 
$1 = RMB 6.89