China’s rebar offers in both domestic and export market have moved up during week 35.
Chinese rebar export offers move up by USD 10/MT W-o-W and it is hovering in the range of USD 355-360/MT, FoB Main Port.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 20/MT (USD 3) within a week and stood at around RMB 2,470/MT (USD 372).
Similarly, the same grade material in Shanghai stood at around RMB 2,450/MT (USD 369); up by RMB 20/MT (USD 3) in the duration.
However, UAE imported rebar offers have fall by USD 15/MT in the same duration and assessed at USD 370-375/MT.
While, export offers in Turkey remain unchanged and stood at USD 370-375/MT.
Global rebar offers in week 35 (22-28 Aug’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 355-360 | +10 |
| CIS export FoB Black Sea | 362-368 | +5 |
| Turkey export FoB main port | 370-375 | 0 |
| UAE import CFR Jebel Ali | 370-375 | -15 |
| India (ex-works Mumbai) | 360-370 | 0 |
USD 1 = INR 66.97, USD 1 = RMB 6.6488
Source: SteelMint Research
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