Chinese wire rod and rebar prices show downtrend
2012-10-12 09:12:11 [Print]
BEIJING (Asian Metal) 12 Oct 12 – Prices of wire rod and rebar in most domestic markets begin showing clues of moving down for the time being after two days’ strong increase. Observers predict that prices will go down slightly next week.
East China: The sales manager of Tairun Trading in Shanghai quoted RMB3,840/t (Theoretical weight and VAT included) and RMB3,700/t (Net weight and VAT included) respectively for rebar HRB335 Φ18mm-22mm from Shente Steel and high speed wire rod Q235 Φ6.5mm-10mm from Jiujiang Steel, with the latter down by RMB20/t compared with those of last working day while the former unchanged.
The source said the price moved up too much in past two days but the demand showed some clues of softening, so traders stopped raising quotations further and some lowered offers. According to him, the supply is not that tight now and the futures market performance is not satisfied with the price of Rb1301 contract moving down by RMB43/t on Thursday. Therefore, he is pessimistic about the coming market.
South China: The sales manager of Jinse Trading in Guangzhou, Guangdong Province reported to Asian Metal that current prices of rebar HRB335 Φ18mm-25mm and high speed wire rod Q235 Φ8mm-10mm from Guangzhou Steel are RMB4,080/t and RMB4,100/t (Net weight and VAT included) respectively, unchanged compared with those of last transaction day.
The source said buyers were not as active as before in placing orders on Wednesday afternoon, so some traders lowered offers slightly by RMB10-20/t. His sales volume on Wednesday was 700-800t while the regular level in previous two days was over 1,000tpd. He is not confident in the forthcoming market next week, deeming prices will go down without the support of strong demand.
North China: The sales manager of Hengyuan Trading in Beijing revealed to Asian Metal that current prices of rebar HRB335 Φ18mm-25mm from HBIS and high speed wire rod Q235 Φ6.5mm-10mm from Jiujiang Steel are RMB3,760/t and RMB3,650/t (Net weight and VAT included) respectively, both down by RMB30/t compared with those of last working day.
The source said the marekt performance was not quite satisfying on Wednesday, and the price of steel billet Q235 150mm*150mm in Tangshan, Hebei Province decreased again by RMB20/t to RMB3,310-3,330/t (Net weight and VAT included), so construction steel traders in Beijing decreased quotations slightly. Besides, with the approach of the weekend, the source deemed prices will be unchanged in following two days and may go down next week as the price of billet is likely to decrease further.
East China: The sales manager of Tairun Trading in Shanghai quoted RMB3,840/t (Theoretical weight and VAT included) and RMB3,700/t (Net weight and VAT included) respectively for rebar HRB335 Φ18mm-22mm from Shente Steel and high speed wire rod Q235 Φ6.5mm-10mm from Jiujiang Steel, with the latter down by RMB20/t compared with those of last working day while the former unchanged.
The source said the price moved up too much in past two days but the demand showed some clues of softening, so traders stopped raising quotations further and some lowered offers. According to him, the supply is not that tight now and the futures market performance is not satisfied with the price of Rb1301 contract moving down by RMB43/t on Thursday. Therefore, he is pessimistic about the coming market.
South China: The sales manager of Jinse Trading in Guangzhou, Guangdong Province reported to Asian Metal that current prices of rebar HRB335 Φ18mm-25mm and high speed wire rod Q235 Φ8mm-10mm from Guangzhou Steel are RMB4,080/t and RMB4,100/t (Net weight and VAT included) respectively, unchanged compared with those of last transaction day.
The source said buyers were not as active as before in placing orders on Wednesday afternoon, so some traders lowered offers slightly by RMB10-20/t. His sales volume on Wednesday was 700-800t while the regular level in previous two days was over 1,000tpd. He is not confident in the forthcoming market next week, deeming prices will go down without the support of strong demand.
North China: The sales manager of Hengyuan Trading in Beijing revealed to Asian Metal that current prices of rebar HRB335 Φ18mm-25mm from HBIS and high speed wire rod Q235 Φ6.5mm-10mm from Jiujiang Steel are RMB3,760/t and RMB3,650/t (Net weight and VAT included) respectively, both down by RMB30/t compared with those of last working day.
The source said the marekt performance was not quite satisfying on Wednesday, and the price of steel billet Q235 150mm*150mm in Tangshan, Hebei Province decreased again by RMB20/t to RMB3,310-3,330/t (Net weight and VAT included), so construction steel traders in Beijing decreased quotations slightly. Besides, with the approach of the weekend, the source deemed prices will be unchanged in following two days and may go down next week as the price of billet is likely to decrease further.
