Rebar offers in international market, including China have moved Up to USD 50/MT in a month’s time.
Chinese rebar offers in the international market have increased sharply by around USD 45/MT M-o-M and stood at USD 380-385/MT, FoB main port.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing moved up by RMB 250/MT (USD 36) within a month and stood at around RMB 2,640/MT (USD 389). The same grade material in Shanghai stood at around RMB 2610/MT (USD 384); offers up by RMB 330/MT (USD 49) in the same duration.
Similarly, other global markets like Turkey and CIS reported increases in export offers, following decrease in Chinese rebar offers. CIS offers have decreased by USD 45/MT, Turkey by USD 50/MT, UAE imported offers also by USD 50/MT in the duration.
While, the Indian rebar prices has seen no major change in the last month. Currently, 12 mm rebar prices are hovering in the range of USD 405-415/MT (ex-Mumbai, excise duty & other taxes extra).
Global rebar offers as on 8 Nov’16
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 380-385 | +45 |
| CIS export FoB Black Sea | 380-385 | +45 |
| Turkey export FoB main port | 410-415 | +50 |
| UAE import CFR Jebel Ali | 405-410 | +50 |
| India (ex-works Mumbai) | 405-415 | -5 |
USD 1 = INR 66.61, USD 1 = RMB 6.78
Source: SteelMint Research
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