Rebar contract CNY 1110 opened at CNY 4862 per tonne, with highest price at CNY 4906 per tonne, lowest price at CNY 4840 per tonne, closed at CNY 4895 per tonne, up by CNY 20 per tonne or 0.41% DoD, given settlement price of previous session day at CNY 4875 per tonne. The total transaction was 822,286 contracts, up by 376,778 contracts, open interest at 684,222 contracts, up 38,918 contracts.
20mm HRB400 is traded at CNY 4,780 per tonne in Shanghai; CNY 5130 per tonne in Beijing, CNY 5260 per tonne in Guangzhou.
6.5mm high speed wire rod is traded at CNY 4,760 per tonne in Shanghai, CNY 4,760 per tonne in Beijing, CNY 4,930 per tonne in Guangzhou.
Statistic by Shijiazhuang Custom showed Hebei province exported steel 1.222 million tonnes in Q1, valuing CNY 0.97 billion, with volume and value amount up by 17.6% and 43.5% YoY respectively. The steel export volume of Hebei province listed third among China, adding 1.756 million tonnes of Jiangsu province and 1.331 million tonnes of Liaoning province, taking up 41% of total export volume.
Main district destination of Hebei steel export was Asia, exporting 0.956 million tonnes, taking up 78% of the total volume. The largest export country was Korea, exporting 0.445 million tonnes, up by 28%. In addition, export volume to ASEAN was 0.138 million tonnes, up by 93.5% and that to India was 0.113 million tonnes, up by 86.4%.
Shanghai Composite Index opened 8 points low at 2956.95 points, siding down during the whole day, despite a small rebound in the afternoon. It finally closed at 2938.98 points, down 25.97 points, or 0.88%, with transaction at CNY 113.891 billion, lower than previous trading day. On chart, it shaped a bearish K line with longer upper shadow, indicating bearish sentiment. But industries full of blue chips, like bank stocks in financial industry witnessed a bottom building trend, possibly indicating downtrend will not last for long.
( Source: www.steelguru.com )