Chinese rebar export offers fell by USD 20/MT in a week’s time; domestic offers have also fallen in the duration.
China’s rebar export offers have again fallen in the last one week by USD 20/MT and stood at USD 335/MT, FoB main port against previous week.
Export offers in China have been quite volatile since the starting of the current month. In the starting month, offers were assessed at around USD 415/MT, which now stand at USD 335/MT, FoB main port.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing declined by RMB 100/MT (USD 16) within a week and stood at around RMB 2,170/MT (USD 331). The same grade material in Shanghai stood at around RMB 1,990/MT (USD 304); offers down by RMB 260/MT (USD 40) in the same duration.
In other global market like Turkey and CIS, export offers have also moved down by USD 20/MT and USD 52/MT respectively in the duration.
Global rebar offers in week 21 (23 -29 May’16)
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 335 | -20 |
| CIS export FoB Black Sea | 430 | -52 |
| Turkey export FoB main port | 445 | -20 |
| UAE import CFR Jebel Ali | 467 | -5 |
| India (ex-works Mumbai) | 395-400 | 0 |
USD 1 = INR 66.99, USD 1= RMB 6.5490
Source: SteelMint Research
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