Chinese rebar export offers are hovering in the range of USD 435-445/MT, FoB main port, sharply increased by USD 35-40/MT W-o-W. Exports offers have consecutively increased for the last two weeks on account of rising domestic prices.
Meanwhile, domestic spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 60/MT (USD 9) within a week and stood at RMB 3,030/MT (USD 440).
Similarly, the same grade material in Shanghai was firm at RMB 3,280/MT (USD 476); up by RMB 160/MT (USD 24) in the same duration.
On the similar line, other global markets reported increase in rebar offers – CIS offers have risen by USD 9/MT, While Turkey export rebar offers slightly rise by USD 3/MT.
Global Rebar Offers in Week 50 (5-11 Dec’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 435-440 | +38 |
| CIS export FoB Black Sea | 415-420 | +9 |
| Turkey export FoB main port | 433-438 | +3 |
| UAE import CFR Jebel Ali | 440-445 | 0 |
| India (ex-works Mumbai) | 400-405 | -5 |
USD 1 = INR 67.58, USD 1 = RMB 6.89
Source: SteelMint Research
Leave a Reply