Chinese rebar export offers slightly down during week 47 after continuous hike in offers.
Chinese rebar export offers are currently hovering in the range of USD 395-400/MT, FoB Main Port, slightly fall by USD 6/MT W-o-W after the prices continue to move up for last five weeks.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also decreased by RMB 220/MT (USD 32) within a week it stood at around RMB 2,740/MT (USD 399).
Similarly, the same grade material in Shanghai stood at around RMB 2,840/MT (USD 413); down by RMB 170/MT (USD 25) in the duration.
However, other global markets reported increase in rebar offers – CIS offers have risen by USD 13/MT, Turkey export and UAE import rebar offers are similar around USD 435-440/MT.
Global Rebar Offers in Week 47 (14-20 Nov’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 395-400 | -6 |
| CIS export FoB Black Sea | 405-410 | +13 |
| Turkey export FoB main port | 435-440 | -2 |
| UAE import CFR Jebel Ali | 435-440 | +3 |
| India (ex-works Mumbai) | 405-415 | 0 |
USD 1 = INR 68.02, USD 1 = RMB 6.87
Source: SteelMint Research
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