It is reported that this week, both Chinese rebar and wire rod prices witnessed a fluctuation with the range of CNY 20 per tonne to CNY 40 per tonne. The average price of HRM335 20mm is CNY 3420 per tonne.
While in Shanghai, the price is lower than that of national level. HRB335 20mm rebar goes at 3220 per tonne; HRB400 20mm grade material is posted at CNY 3280 down by CNY 30 per tonne to CNY 40 per tonne and CNY 20 per tonne respectively from last Friday. Price for commercial wire rod goes at CNY 3200 per tonne up by CNY 30 per tonne and that of Hi-speed material up by CNY 40 per tonne to CNY 60 per tonne to CNY 3250 per tonne.
Taking Shanghai price for HRB335 20mm rebar as benchmark, the price is much higher than that of previous prevailing price, though it is remain in low level when compare to other regions. At the meanwhile, the transactions are becoming less and less. Most of the market participants are quite confused with the current price.
This week, rebar price in Turkey and Japan all see some US$20/ton increase, largely due to the hiking scrap price and warming up demand from EU. However, export market in China is largely unchanged. Offer for alloyed rebar goes at USD 530 tonne FOB. Quotation for commercial grade is tagged at USD 550 per tonne to USD 580 per tonne FOB. Boron added wire rod goes at USD 500 per tonne to USD 530 per tonne FOB.