Chinese rebar export offers have seen no major price movement during last week 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 moved up by RMB 130/MT (USD 19) within a week and stood at RMB 3,150/MT (USD 460). The same grade material in Shanghai is at RMB 3,250/MT (USD 473); offers up by RMB 120/MT (USD 18) in the same duration.
However, other global markets like Turkey, CIS export offers reported increased by USD 8-13/MT, while UAE imported rebar offers up by USD 10/MT.
Global rebar offers as on 21 Jan’16
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 435-440 | 0 |
| CIS export FoB Black Sea | 420-425 | -13 |
| Turkey export FoB main port | 435-440 | -8 |
| UAE import CFR Jebel Ali | 440-445 | -10 |
| India (ex-works Mumbai) | 450-460 | -5 |
USD 1 = INR 68.11, USD 1 = RMB 6.86
Source: SteelMint Research
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