Rebar (Φ20mm, HRB400E) was quoted at 3,465.5 yuan (USD 479) per ton, down 37.1 yuan (USD 5) from the beginning of July and down 1.1% from the previous period.
Prices for wire rod (Φ8-10mm, HPB300) were set at 3,661.6 yuan (USD 506) per ton. Despite an increase of 0.7% compared to the previous period, prices fell by 25.6 yuan (USD 3).
Common medium plate (20 mm, Q235) was 3,678.6 yuan (USD 508) per ton. This corresponds to a decrease of 38.8 yuan (USD 5) and a drop of 1.0% compared to the previous period.
Prices for hot rolled coils (4.75-11.5 mm, Q235) were 3,676.6 yuan (USD 508) per ton, down 41.5 yuan (USD 5.67) and 1.1% from the previous period.
Seamless steel pipe (219*6, 20#) remained stable at 4,430.0 yuan (USD 612) per ton, with a marginal decrease of 0.3% from the previous period.
The price of angle steel (5#) was 3,776.4 yuan (USD 522) per ton, a slight decrease of 10.4 yuan (USD 1) or 0.3%, with an increase of 0.05% from the previous period.
Overall, while supply hasn't changed significantly, demand remains subdued and stocks of heavy plate are higher than those of construction materials. The steel market continues to face volatility and general weakness, exacerbated by falling profit margins for steel manufacturers and negative market expectations.
The current price declines in the Chinese steel market and the challenges facing the industry are being closely monitored by industry stakeholders. The impact of these price fluctuations and market trends on the sector's future prospects will become clearer in the coming days.
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