In the first ten days of November 2023, the average rebar prices for 16-25mm diameter hot-rolled steel bar in China were 112.8 yuan/ton (15.7 USD/t). It increased by 3% compared to October 21-31 and amounted to 3835.5 yuan/t (534 dollars).
In China's Tangshan province, billet prices increased by 70 yuan/ton to 3,690 yuan/ton ($506/ton) last week. However, this slight increase was overshadowed by strong gains in rebar futures on the Shanghai Stock Exchange. The market stagnated as supply pressures continued and customers took a cautious approach. Producers had previously increased billet prices by CNY 80/ton to CNY 3,630/ton ex-works.
Besides billet and rebar, wire rod prices increased 3.0%, hot rolled coil increased 2.2% and angle increased 2.5%.
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