Rebar export offers from China have inched up by USD 5/MT in a week’s time and stood at around USD 265-270/MT.
Presently, Chinese rebar export offers stood at USD 265-270/MT, FoB China main port; rose slightly by USD 5/MT W-o-W on the backdrop of stability in domestic rebar prices.
Trade activities seem to be nil in the upcoming week owing to Lunar New Year. It is heard that China will be officially closed for a week from 8 Feb’16. Few plants, however, will shutdown for two weeks prior to the official date. In addition, some plants will only resume operations after 15th day of the Lunar New Year.
Domestic rebar prices for HRB 400 grade (25 mm) in Beijing have fallen by RMB 40/MT (USD 6/MT) in a week’s time and stood at around RMB 1,850/MT (USD 282/MT). Similarly, the same grade material in Shanghai stood at around RMB 1,860/MT (USD 280/MT); remain stable in the same period.
Rebar export offers in other markets like CIS, Turkey remain unchanged in a week’s time. Similarly, imported rebar offers in UAE also remained stable in the same duration.
Global rebar offers in week 5 (25-31 Jan’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 265-270 | +5 |
| CIS export FoB Black Sea | 283-287 | 0 |
| Turkey export FoB main port | 320-325 | -1 |
| UAE import CFR Jebel Ali | 330-335 | 0 |
| India (ex-works Mumbai) | 370-375 | -15 |
USD 1 = INR 67.84
Source: SteelMint Research
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