China’s rebar offers in both domestic and export markets have moved up in a week’s time.
Chinese rebar export offers are currently hovering in the range of USD 312-318/MT, FoB main port; have gone up by USD 10/MT in a week.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also moved up by RMB 230/MT (USD 34/MT) within a week and stood at around RMB 2,390/MT (USD 357/MT).
Similarly, the same grade material in Shanghai stood at around RMB 2,220/MT (USD 332/MT); rose by RMB 60/MT (USD 9/MT) in the duration.
However, export offers in other international market like Turkey, including UAE imported offers remain unchanged. While, CIS export offers down slightly by USD 8/MT in the same time.
Chinese rebar prices volatile in Q2 CY16
During Apr-Jun’16 quarter, Chinese rebar export offers were quite volatile. In the starting of Apr’16, export offers were assessed at around USD 340/MT, which reached to the highest level of around USD 420/MT at month- end. Afterwards, since the starting of May’16, offers went down continuously till Jun’16 and now stand at around USD 315/MT.
Global rebar offers in week 28 (4-10 Jul’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 312-318 | +10 |
| CIS export FoB Black Sea | 362-368 | -8 |
| Turkey export FoB main port | 380-385 | 0 |
| UAE import CFR Jebel Ali | 393-398 | 0 |
| India (ex-works Mumbai) | 365-375 | -10 |
USD 1 = INR 67.18, USD 1 = RMB 6.68
Source: SteelMint Research
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