China’s rebar offers continue to move up in both domestic and export markets since the starting of Jul’16.
Chinese rebar export offers are currently hovering in the range of USD 332-338/MT, FoB main port; have gone up further by USD 20/MT during the last one week. Prices have been showing upwards movements since the starting of the current month.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also moved up by RMB 120/MT (USD 18) within a week and stood at around RMB 2,510/MT (USD 375).
Similarly, the same grade material in Shanghai stood at around RMB 2,280/MT (USD 341); rose by RMB 60/MT (USD 9) in the duration.
However, export offers in other international market like Turkey and CIS, including UAE imported have moved down by USD 7-12/MT in the same duration.
Global rebar offers in week 29 (11-19 Jul’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 332-338 | +20 |
| CIS export FoB Black Sea | 355-360 | -7 |
| Turkey export FoB main port | 372-378 | -8 |
| UAE import CFR Jebel Ali | 380-385 | -12 |
| India (ex-works Mumbai) | 365-375 | -10 |
USD 1 = INR 67.06, USD 1 = RMB 6.6805
Source: SteelMint Research
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