China rebar export offers slump by USD 25/MT and stood at USD 450-460/MT which was traded at USD 480-485/MT in preceding week, FoB Main Port.
According to the sources the mills are not interested to export material as the price realization is higher to sell material in domestic market than to deal it for exports.
Currently, the rebar in Shanghai market is at RMB 3,730/MT; up by RMB 60/MT (USD 9) and following the suit the Bejing rebar is evaluated at RMB 3,800/MT (USD 552); up by RMB 120/MT (USD 17)
CIS rebar export prices continued to climb over the past week, supported by the uptrend in global scrap & other Semis steel values. The current offers for CIS export are at USD 430-435/MT; up by USD 7/MT. While, the Turkey exports and UAE imports price were stable at USD 445-450/MT.
Note: Prices as on 17th Mar’17
Sources: SteelMint Research
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