The Chinese rebar export offers for July/August shipments surge marginally by USD 5/MT W-o-W, even though demand is not much good on pursuing festive season.
The fresh export offers for Chinese Q235 rebar are evaluated at USD 450-460/MT FoB main port.
Although, domestic offers have started to fall due to the monsoon and weak future trends. The spot offers in Shanghai, East China are hovering at RMB 3,480/MT (USD 511) with fall of RMB 120/MT (USD 17), W-o-W.
While, in Beijing North China it evaluated at RMB 3,530/MT (USD 519); plunge by RMB 30/MT (USD 5), W-o-W.
Turkish rebar export trades remained bearish as its major export markets in the Middle East region have been observing the Islamic holy month of Ramadan. Hence, exporters maintain offers at same levels as a week ago at USD 430-435/MT.
In context to Country’s domestic demand it remain strong on constant healthy construction activities.
Further, on CIS export offers it remain unaltered for consecutively third week at USD 410-415/MT.
Coming to UAE import offers, offers increased by USD 5/MT to USD 440-443/MT, W-o-W.
Sources: SteelMint Research
Leave a Reply