China’s rebar offers in both domestic and export markets have moved up marginally during week 33.
Chinese rebar export offers are currently hovering in the range of USD 340-345/MT, FoB Main Port; slightly up by USD 5/MT in a week’s time.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 70/MT (USD 34) within a week and stood at around RMB 2,430/MT (USD 357).
Similarly, the same grade material in Shanghai stood at around RMB 2,410/MT (USD 332); up by RMB 70/MT (USD 9) in the duration.
In the similar line, Turkey export offers have upsurged by USD 15/MT in the same duration.
However, export offers in other international market like CIS export, including UAE imported offers remain unchanged in a week.
Global rebar offers in week 33 (8-14 Aug’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 342-345 | +5 |
| CIS export FoB Black Sea | 350-355 | 0 |
| Turkey export FoB main port | 390-395 | +15 |
| UAE import CFR Jebel Ali | 380-385 | 0 |
| India (ex-works Mumbai) | 360-370 | -10 |
USD 1 = INR 66.90, USD 1 = RMB 6.65
Source: SteelMint Research
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