Chinese rebar export offers up by USD USD 8/MT and stood at around USD 330/MT FoB main port.
Chinese rebar export offers continue to move up since Jan’16 and now offers stood at around USD 330/MT, FoB Main port; up by around USD 8/MT W-o-W.
Domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing up by RMB 40/MT (USD 6/MT) within a week and stood at around RMB 2,190/MT (USD 335/MT).Similarly, the same grade material in Shanghai stood at around RMB 2,280/MT (USD 350/MT); offers unchanged in the same period.
Other global market, CIS export rebar offers have almost stable at around USD 340-345/MT, FoB main port while Turkey and UAE market marginally up.
Global rebar offers in week 13 (21-27 Mar’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 328-333 | +8 |
| CIS export FoB Black Sea | 340-345 | 0 |
| Turkey export FoB main port | 385-390 | +4 |
| UAE import CFR Jebel Ali | 390-395 | +1 |
| India (ex-works Mumbai) | 400-410 | -5 |
USD 1 = INR 66.84 & USD 1 = RMB 6.5223
Source: SteelMint Research
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