August 29, 2008

Rebar and wire rod price gain last week in China

As per reports, 68 Chinese rebar makers and 52 wire rod makers raised their EXW prices last week.

Market prices of Q235 high speed wire rod with a diameter of 6.5mm posted in 23 major domestic cities averaged some CNY 4203 per tonne up by CNY 150 per tonne WoW and market prices of HRB335 rebar with a diameter of 20mm posted in 23 major domestic cities averaged some CNY 4266 per tonne up by CNY 150 per tonne WoW.

Rebar price went up by CNY 200 per tonne in Shanghai, Hefei, Zhengzhou, Taiyuan, Chengdu, Kunming and Guiyang. Xiangtan Steel lifted its EXW price by CNY 300 per tonne. 12mm, 14mm and 28mm rebar were in tight supply in Shanghai and Hefe and their prices increased by over CNY 300 per tonne WoW. Price for HRB 335 rebar stood at CNY 4000 per tonne in Lanzhou and Harbin the lowest price level in domestic market and at CNY 4700 per tonne in Changsha the highest price level.

It is expected that market prices will further increase.