China’s steel exports will probably exceed 100 MnT for 2015, as per China Iron and Steel Association.
Global rebar market has not witnessed much change in the current week. Chinese rebar export offers have fallen slightly by USD 2.5/MT, CIS by USD 10/MT W-o-W.
Offers in other markets like Turkey and Middle East were unchanged in the same period, as trades were limited owing to ongoing festival EID Al Adha.
According to a China Iron and Steel Association official, “China’s steel exports will probably exceed 100 MnT for 2015, judging by the volume for the first eight months and it can easliy grow further”.
In the period of Jan-Aug’15, China’s total steel export has reached about 71.9 MnT, which is a 26.5% Y-o-Y increase.
China’s domestic steel demand is shrinking, which is forcing steel exporters to tap overseas markets. Its prices are also competitive, giving it an edge over other global markets.
Global Rebar Offers as on 25 Sept’15
|
Country-Wise |
USD/MT |
W-o-W Change |
| China export FOB main port | 282.5 | – 2.5 |
| CIS export FOB Black Sea | 327.5 | – 10 |
| Turkey export FOB main port | 355 | 0 |
| UAE import CFR Jebel Ali | 367.5 | 0 |
| India (Ex-Works Mumbai)* | 416 | – 10 |
Note: 1USD= INR 66.10,*ED and Taxes extra as applicable
Leave a Reply