Chinese steel consumption to fall by 4% in 2016, as per China Iron & Steel Association
Internationally, rebar offers have been sharply moving up since last one month. Chinese rebar export offers stand at around USD 345/MT, FoB main port; up by USD 60-65/MT in a month’s time.
Other global market like Turkey and CIS export rebar offers have also moved up by around USD 70-80/MT in a month’s time.
Chinese consumption to fall 4% in 2016: CISA
According to an official of China Iron & Steel Association, “Chinese steel consumption will decline further in 2016 to 646 MT, down by 4% from 673 MnT in 2015. The previous year figures were itself a 4.8% dip from 2014.”
Global rebar offers
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 345 | +63 |
| CIS export FoB Black Sea | 365 | +80 |
| Turkey export FoB main port | 433 | +70 |
| UAE import CFR Jebel Ali | 433 | +62 |
| India (ex-works Mumbai) | 400-410 | +10 |
USD 1 = INR 66.50
Source: SteelMint Research
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