Chinese rebar export offers have seen no major price movement in the last two weeks and stood in the range of USD 435-440/MT, FoB main port.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing remained unchanged and are at RMB 3,150/MT (USD 438). Similarly, the same grade material in Shanghai is at RMB 3,250/MT (USD 454); offers are unaltered in the same duration.
However, other global markets like Turkey, has seen sharp price fall by USD 20-22/MT. CIS export offers reported decrease by about USD 5/MT, while UAE import rebar offers are down by USD 10-12/MT.
Global rebar offers as on 27 Jan’ 17
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 435-440 | 0 |
| CIS export FoB Black Sea | 413-418 | -5 |
| Turkey export FoB main port | 410-415 | -22 |
| UAE import CFR Jebel Ali | 425-430 | -12 |
| India (ex-works Mumbai) | 440-450 | -10 |
USD 1 = INR 68.17, USD 1 = RMB 6.86
Source: SteelMint Research
Leave a Reply