Chinese rebar offers in both domestic and export markets have marginal fall in a week’s time.
Chinese rebar export offers have fallen by USD 3/MT W-o-W at USD 337/MT, FoB Main Port. Besides, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also move down by RMB 10/MT (USD 2) within a week and stood at around RMB 2,390/MT (USD 358).
The same grade material in Shanghai is available at RMB 2,280/MT (USD 341); down by RMB 10/MT (USD 2) in the duration.
UAE imported rebar offers have also fallen by USD 5/MT in the same duration and assessed at USD 360-365/MT.
While, export offers in Turkey have significantly fallen by USD 15/MT and stood at USD 355-360/MT.
Global Rebar Offers in Week 40
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 335-340 | -3 |
| CIS export FoB Black Sea | 355-360 | +3 |
| Turkey export FoB main port | 355-360 | -15 |
| UAE import CFR Jebel Ali | 360-365 | -5 |
| India (ex-works Mumbai) | 400-410 | +15 |
USD 1 = INR 66.46, USD 1 = RMB 6.6778
Source: SteelMint Research
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