Chinese rebar prices stable
2023-03-14 08:26:57 [Print]
BEIJING (Asian Metal) 14 Mar 23 - Upon steady market performance, Chinese rebar market prices remain flat on Monday. The mainstream prices of rebar HRB400E Φ20mm hovered at RMB4,250/t (USD617/t) and RMB4,380/t (USD636/t) D/P in North China and South China respectively, similar to late last week. Given firm prices of raw materials but weakening buying activities, insiders predict rebar prices would level off in coming two days.
A trader in Tianjin reported that he asked RMB4,250/t (USD617/t) without concession for rebar HRB400E Φ20mm on Monday, unchanged from late last week. "I last sold around 60t of the material at RMB4,250/t (USD617/t) last Saturday," he said, adding that he did not close a deal on Monday morning and sold about 20t at RMB4,250/t (USD617/t) in the afternoon. His sales volume totally reached 200t on Monday, down from about 280tpd in late last week. His inventory remained about 2,000t at present, down by 1,000t from two weeks ago. Upon reduced stock but softening market performance, he predicts rebar prices would stabilize in coming two days.
Reporting a sales volume of almost 60,000t in 2022, the company recorded a sales amount of nearly 6,000t in the first two months of this year. It would sell around 5,000t of rebar in March, up from 4,000t in February.
A trader in Guangdong stated that he quoted RMB4,380/t (USD636/t) for rebar HRB400E Φ20mm this Monday and could accept a concession of no more than RMB10/t (USD1.5/t) for regular clients, the same as late last week. "I sold around 30t of the material at RMB4,370/t (USD634/t) to a regular client on Monday and last sold about 50t of the material at the same price last Friday," he said, adding that he ever tried to hike the price by RMB10/t (USD1.5/t) on Monday but failed to close a deal, as the demand from downstream clients remained limited. He has an inventory of about 2,000t currently, similar to one week ago. He is of the opinion that rebar prices would remain flat in coming two days.
The company recorded a sales amount of roughly 120,000t in 2022 and 18,000t in the first two months of this year. It estimated the sales volume would reach about 10,000t in March, up from 8,000t in February.
A trader in Tianjin reported that he asked RMB4,250/t (USD617/t) without concession for rebar HRB400E Φ20mm on Monday, unchanged from late last week. "I last sold around 60t of the material at RMB4,250/t (USD617/t) last Saturday," he said, adding that he did not close a deal on Monday morning and sold about 20t at RMB4,250/t (USD617/t) in the afternoon. His sales volume totally reached 200t on Monday, down from about 280tpd in late last week. His inventory remained about 2,000t at present, down by 1,000t from two weeks ago. Upon reduced stock but softening market performance, he predicts rebar prices would stabilize in coming two days.
Reporting a sales volume of almost 60,000t in 2022, the company recorded a sales amount of nearly 6,000t in the first two months of this year. It would sell around 5,000t of rebar in March, up from 4,000t in February.
A trader in Guangdong stated that he quoted RMB4,380/t (USD636/t) for rebar HRB400E Φ20mm this Monday and could accept a concession of no more than RMB10/t (USD1.5/t) for regular clients, the same as late last week. "I sold around 30t of the material at RMB4,370/t (USD634/t) to a regular client on Monday and last sold about 50t of the material at the same price last Friday," he said, adding that he ever tried to hike the price by RMB10/t (USD1.5/t) on Monday but failed to close a deal, as the demand from downstream clients remained limited. He has an inventory of about 2,000t currently, similar to one week ago. He is of the opinion that rebar prices would remain flat in coming two days.
The company recorded a sales amount of roughly 120,000t in 2022 and 18,000t in the first two months of this year. It estimated the sales volume would reach about 10,000t in March, up from 8,000t in February.
