Chinese wire rod and rebar prices stabilize
2013-10-22 09:26:10 [Print]
BEIJING (Asian Metal) 22 Oct 13 - Prices of wire rod and rebar in most domestic markets are stabilizing for the time being, but the demand has not released yet. Insiders predict that prices are likely to keep unchanged in a short term.
In Shanghai, a construction steel distributor said his quotations for rebar HRB400 Φ18mm-22mm from Zhongtian Steel and high speed wire rod HPB235 Φ8mm-10mm from Jiujiang Steel are RMB3,440/t (Theoretical weight and VAT included, mill-delivered) and RMB3,310/t (Net weight and VAT included) respectively, both unchanged compared with those of last trading day.
The source said leading mills in East China like Shagang Steel, Yonggang Steel and Zhongtian Steel all issued new price policies for late October production, with prices of wire rod and rebar unchanged. Thus, local steel traders would like to keep offers stable. The source said mills’ flat price policy shows that producers are not confident of the coming market, so he is also pessimistic.
In Guangzhou, Guangdong Province, a construction steel trader quoted RMB3,700/t (Net weight and VAT included) and RMB3,720/t (Net weight and VAT included) for rebar HRB335 Φ18mm-25mm and high speed wire rod HPB300 Φ10mm from Shaoguan Steel respectively, stable over those of last trading day.
The source reported that the price of the raw material-steel billet Q235150mm*150mm in Tangshan, Hebei Province went down by RMB30/t during the weekend, so the wire rod and rebar market ran slowly on Monday. Meanwhile, considering the traditional slow season will come, most traders are eager to promote sales and some of them even provide a discount of RMB10/t. Revealing a daily sales volume of 400t against the best level of 700-800t, the source is worried about the coming market.
In Chengdu, Sichuan Province, a construction steel trader quoted RMB3,620/t (Net weight and VAT included) and RMB3,450/t (Net weight and VAT included) for rebar HRB400 Φ18mm-25mm from Chuanwei Steel and high speed wire rod HPB300 Φ10mm from Longmen Steel respectively, both unchanged compared with those of last trading day.
The source said prices were on a downward trend last week due to the soft demand. “The market is still not active and prices are likely to go down further late this week, because they increased too much two weeks ago,” he said, adding that the markup reached RMB100/t after the National Day holiday. Thus, without the support from strong demand, the local market is hard to remain bullish for long.
In Shanghai, a construction steel distributor said his quotations for rebar HRB400 Φ18mm-22mm from Zhongtian Steel and high speed wire rod HPB235 Φ8mm-10mm from Jiujiang Steel are RMB3,440/t (Theoretical weight and VAT included, mill-delivered) and RMB3,310/t (Net weight and VAT included) respectively, both unchanged compared with those of last trading day.
The source said leading mills in East China like Shagang Steel, Yonggang Steel and Zhongtian Steel all issued new price policies for late October production, with prices of wire rod and rebar unchanged. Thus, local steel traders would like to keep offers stable. The source said mills’ flat price policy shows that producers are not confident of the coming market, so he is also pessimistic.
In Guangzhou, Guangdong Province, a construction steel trader quoted RMB3,700/t (Net weight and VAT included) and RMB3,720/t (Net weight and VAT included) for rebar HRB335 Φ18mm-25mm and high speed wire rod HPB300 Φ10mm from Shaoguan Steel respectively, stable over those of last trading day.
The source reported that the price of the raw material-steel billet Q235150mm*150mm in Tangshan, Hebei Province went down by RMB30/t during the weekend, so the wire rod and rebar market ran slowly on Monday. Meanwhile, considering the traditional slow season will come, most traders are eager to promote sales and some of them even provide a discount of RMB10/t. Revealing a daily sales volume of 400t against the best level of 700-800t, the source is worried about the coming market.
In Chengdu, Sichuan Province, a construction steel trader quoted RMB3,620/t (Net weight and VAT included) and RMB3,450/t (Net weight and VAT included) for rebar HRB400 Φ18mm-25mm from Chuanwei Steel and high speed wire rod HPB300 Φ10mm from Longmen Steel respectively, both unchanged compared with those of last trading day.
The source said prices were on a downward trend last week due to the soft demand. “The market is still not active and prices are likely to go down further late this week, because they increased too much two weeks ago,” he said, adding that the markup reached RMB100/t after the National Day holiday. Thus, without the support from strong demand, the local market is hard to remain bullish for long.
