Chinese rebar prices go up
2024-04-12 08:23:10 [Print]
BEIJING (Asian Metal) 12 Apr 24 - Chinese rebar suppliers raised their prices this week mainly supported by higher raw material prices and the price increase in futures market. The present mainstream prices of rebar HRB400E Φ20mm stand at RMB3,540-3,560/t (USD489-492/t) D/P in warehouse Tianjin and RMB3,460-3,480/t (USD478-481/t) D/P in warehouse Shanghai respectively, up by about RMB90/t (USD12/t) and RMB100/t (USD14/t) compared with those of last weekend. Insiders predict that Chinese rebar prices would lack momentum to rise further in the coming week because of the unimproved demand.
A Tianjin-based rebar trader quotes RMB3,550/t (USD491/t) D/P in warehouse Tianjin with no concessions for rebar HRB400E Φ20mm at present, while he insisted on RMB3,460/t (USD478/t) last Sunday. "We lifted the price by a total of RMB90/t (USD12/t) this week mainly supported by higher raw material prices and the price increase in futures market," said the trader. However, the demand from downstream industries does not improve much and many customers still purchase materials upon orders at the moment. He sold about 80t on Thursday at RMB3,550/t (USD491/t) and around 100t last Sunday at RMB3,460/t (USD478/t). The trader has no plan to increase the price again and predicts that Chinese rebar prices might go down slightly in the coming week on weak demand.
With a regular sales volume of about 5,000tpm, the trader sold around 5,000t last month and expects a stable sales amount this month. Having a stockpile of about 1,500t in hand now, up from around 1,000t last month, they sold around 60,000t in 2023 and about 13,000t in Q1 of this year.
A rebar distributor in Shanghai told the price of rebar HRB400E Φ20mm hovers at RMB3,470/t (USD480/t) D/P in warehouse Shanghai without any concessions for the time being, and his price was RMB3,370/t (USD466/t) last Sunday. "We also increased the price by RMB100/t (USD14/t) this week mainly supported by higher raw material prices and the price rebound in futures market," said the trader, who complained that customers still purchase from hand to mouth at present and refuse to build large stockpiles. He sold about 200t on Thursday at RMB3,470/t (USD480/t) and around 200t last Sunday at RMB3,370/t (USD466/t). The trader has little confidence in the market and expects Chinese rebar prices to move down in the coming week on soft demand.
With a regular sales volume of about 30,000tpm, the trader sold around 30,000t last month and anticipates a similar sales amount in April. Having an inventory of about 15,000t in hand now, down by around 5,000t MoM, they sold about 350,000t last year and around 80,000t in the first quarter of 2024.
A Tianjin-based rebar trader quotes RMB3,550/t (USD491/t) D/P in warehouse Tianjin with no concessions for rebar HRB400E Φ20mm at present, while he insisted on RMB3,460/t (USD478/t) last Sunday. "We lifted the price by a total of RMB90/t (USD12/t) this week mainly supported by higher raw material prices and the price increase in futures market," said the trader. However, the demand from downstream industries does not improve much and many customers still purchase materials upon orders at the moment. He sold about 80t on Thursday at RMB3,550/t (USD491/t) and around 100t last Sunday at RMB3,460/t (USD478/t). The trader has no plan to increase the price again and predicts that Chinese rebar prices might go down slightly in the coming week on weak demand.
With a regular sales volume of about 5,000tpm, the trader sold around 5,000t last month and expects a stable sales amount this month. Having a stockpile of about 1,500t in hand now, up from around 1,000t last month, they sold around 60,000t in 2023 and about 13,000t in Q1 of this year.
A rebar distributor in Shanghai told the price of rebar HRB400E Φ20mm hovers at RMB3,470/t (USD480/t) D/P in warehouse Shanghai without any concessions for the time being, and his price was RMB3,370/t (USD466/t) last Sunday. "We also increased the price by RMB100/t (USD14/t) this week mainly supported by higher raw material prices and the price rebound in futures market," said the trader, who complained that customers still purchase from hand to mouth at present and refuse to build large stockpiles. He sold about 200t on Thursday at RMB3,470/t (USD480/t) and around 200t last Sunday at RMB3,370/t (USD466/t). The trader has little confidence in the market and expects Chinese rebar prices to move down in the coming week on soft demand.
With a regular sales volume of about 30,000tpm, the trader sold around 30,000t last month and anticipates a similar sales amount in April. Having an inventory of about 15,000t in hand now, down by around 5,000t MoM, they sold about 350,000t last year and around 80,000t in the first quarter of 2024.
