Chinese domestic rebar market has reported rise in prices. However, export offers fell marginally during Jun’16.
Chinese domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have surged by RMB 210/MT (USD 32) within a month and stood at around RMB 2,300/MT (USD 345). The same grade material in Shanghai stood at around RMB 2,230/MT (USD 334); offers move up by RMB 200/MT (USD 30) in the same duration.
On the contrary, rebar export offers in China have undergone no major change in the last one month. Meanwhile, offers in other international markets like Turkey, CIS exports, including UAE imported have registered a major price corrections in the same duration.
At present, Chinese rebar export offers stand at USD 305/MT, FoB main port.
Other global markets like Turkey and CIS reported a fall in export offers. CIS offers have decreased by USD 47/MT, Turkey by USD 63/MT and UAE imported offers by USD 51/MT in the duration.
Global rebar offers as on 5 Jul’16
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 305 | -5 |
| CIS export FoB Black Sea | 365 | -47 |
| Turkey export FoB main port | 382 | -63 |
| UAE import CFR Jebel Ali | 394 | -51 |
| India (ex-works Mumbai) | 370 | -22 |
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