Chinese rebar export offers fell slightly to USD 257/MT. While, offers in Turkey and UAE were volatile in Nov’15.
Chinese rebar export offers fell by USD 5/MT M-o-M. The pace of declining offers has slowdown in last 2 months. In the staring of the current year, export offers were around USD 400/MT, which fell by 35% since then.
In CIS countries, prices continue to remain under pressure and decreased by USD 13/MT to USD 292/MT on FoB basis.
Turkey export and UAE imported rebar offer were quite volatile last month. Turkey export offers had surged by upto USD 347/MT in Nov’15 mid owing to increase in imported scrap, but recently have slipped to USD 335/MT levels.
Similarly, UAE imported rebar offers had also increased to USD 352/MT in the same period, but declined to USD 341/MT owing to weak demand in domestic market.
Global rebar offers in week 49 (30 Nov’15-6 Dec’15)
| Country-wise | Offers in USD/MT | W-o-W | M-o-M |
| China export FoB main port | 257 | – 3 | – 5 |
| CIS export FoB Black Sea | 292 | – 5 | – 13 |
| Turkey export FoB main port | 335 | 0 | 0 |
| UAE import CFR Jebel Ali | 341 | – 12 | + 11 |
| India (ex-works Mumbai) | 370 | – 2 | – 2 |
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