China’s domestic rebar prices decrease on adverse weather

China’s domestic rebar prices decrease on adverse weather
Published by:Jessica Zong<>
8 May 2025 @ 10:18 UTC

China’s domestic rebar prices decreased on Thursday May 8 due to weaker demand caused by heavy rain or strong wind in certain regions. A cold wave hit China from the northwest to the north and then to the east. It caused strong wind in northwest and north China on Thursday and heavy rain in north and east China, according to the National Meteorological Center (NMC)
The NMC released a strong wind blue warning at 6am on Thursday, saying wind speeds could reach as high as level 10 in certain coastal cities on Thursday and Friday.
China measures wind speed with a scale that goes from level 1 to 17, with a level 11 wind having the potential to cause serious damage, according to the NMC.
The adverse weather interrupted construction work and then resulted in weaker demand for rebar, pushing downward pressure on rebar prices, according to sources.
Meanwhile, the price drop in the futures market further weakened the demand and prices of rebar, sources said.
Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic, ex-whs Eastern China was 3,060-3,080 yuan ($424-426) per tonne on Thursday, down by 20 yuan per tonne from 3,080-3,100 yuan per tonne on Wednesday.
Market chatter The rebar inventory in the spot market is decreasing because steel mills have reduced rebar production rates. But it’s hard to push up rebar prices because market sentiment on demand was pessimistic, an industry analyst said.
The rebar output totaled 2.24 million tonnes at major mills for the week ended Thursday, down by 80,000 tonnes from 2.32 million tonnes a month earlier. And the spot rebar inventories at major cities totaled 4.65 million tonnes, down by 980,000 tonnes from 5.63 million tonnes a month earlier, according to a local industry information provider.
Billet Fastmarkets’ daily price assessment for steel billet domestic, exw Tangshan, Northern China was 2,970 yuan per tonne including value-added tax on Thursday, down by 20 yuan per tonne from 2,990 yuan per tonne on Wednesday.
Shanghai Futures Exchange The most-traded October rebar futures contract on the Shanghai Futures Exchange closed at 3,052 yuan per tonne on Thursday, down by 46 yuan per tonne from 3,098 yuan per tonne on Wednesday.