Chinese rebar export offers have moved up slightly, while, domestic offers have fallen in a week’s time.
Chinese rebar export offers have risen slightly by around USD 3/MT W-o-W and stand at USD 307/MT, FoB Main Port. On the contrary, prices in domestic market have fallen in the same duration.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing down by RMB 110/MT (USD 17) within a week and stood at around RMB 2,090/MT (USD 318). The same grade material in Shanghai is witnessed at around RMB 2,050/MT (USD 312); down by RMB 40/MT (USD 6) in the duration.
Similarly, export offers in other global markets like Turkey and CIS, including UAE imported offers have reported no major changes.
Global rebar offers as on 17 Jun’16
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 307 | +3 |
| CIS export FoB Black Sea | 412 | 0 |
| Turkey export FoB main port | 402 | -3 |
| UAE import CFR Jebel Ali | 405 | -7 |
| India (ex-works Mumbai) | 375-380 | -10 |
USD 1 = INR 67.08, USD 1 = RMB 6.5795
Source: SteelMint Research
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