Chinese and Turkey rebar export offers up by USD 5-10/MT in a week’s time.
Global rebar prices moves up including Chinese rebar in last one week. Chinese rebar export offers continues to increase further by USD 5/MT W-o-W and stood at USD 275-280/MT FoB main port.
Domestic rebar prices for HRB 400 grade (25 mm) in Beijing rose by RMB 80/MT (USD 12/MT) within a week and stood at around RMB 2,030/MT (USD 311/MT). Similarly, the same grade material in Shanghai stood at around RMB 1,960/MT (USD 300/MT); offers are up by RMB 60/MT (USD 9/MT) in the same period.
Other global market, Turkey export rebar offers also started rising by USD 10/MT W-o-W on the backdrop of improved demand mainly from the UAE nation. Current offers are assessed at around USD 320/MT FoB main port.
Global rebar offers in week 9 (29 Feb-6 Mar’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 275-280 | +5 |
| CIS export FoB Black Sea | 285-290 | 0 |
| Turkey export FoB main port | 318-323 | +10 |
| UAE import CFR Jebel Ali | 332-337 | +15 |
| India (ex-works Mumbai) | 410-415 | +10 |
USD 1 = INR 67.11
Source: SteelMint Research
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