Chinese rebar export offers increases consecutively for the fifth week.
Chinese rebar export offers are currently hovering in the range of USD 400-405/MT, FoB Main Port, up by USD 20/MT W-o-W. Prices in China has seen continuously moving up for the last five weeks.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 320/MT (USD 46) within a week and stood at around RMB 2,960/MT (USD 435).
Similarly, the same grade material in Shanghai stood at around RMB 3,010/MT (USD 440); up by RMB 400/MT (USD 58) in the duration.
Other global markets reported increase in rebar offers, CIS offers have rise by USD 12/MT, Turkey export offers rose by USD 25/MT and UAE import offers up by USD 30/MT in same duration.
Global Rebar Offers in Week 46 (07-11 Nov’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 400-405 | +20 |
| CIS export FoB Black Sea | 390-395 | +12 |
| Turkey export FoB main port | 440-445 | +25 |
| UAE import CFR Jebel Ali | 435-440 | +30 |
| India (ex-works Mumbai) | 415-420 | +10 |
USD 1 = INR 67.19, USD 1 = RMB 6.81
Source: SteelMint Research
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