China’s rebar offers in both domestic and export markets have slightly fall during week 30
Chinese rebar export offers are currently hovering in the range of USD 330-335/MT, FoB Main Port; slightly fallen by USD 3-4/MT in a week time.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also moved down by RMB 80/MT (USD 11/MT) within a week and stood at around RMB 2,430/MT (USD 363/MT).
Similarly, the same grade material in Shanghai stood at around RMB 2,270/MT (USD 339/MT); fall by RMB 10/MT (USD 1.4/MT) in the duration.
While export offers in other international market like Turkey, including UAE offers remain unchanged.In addition, CIS export offers are down slightly by USD 5/MT in the same time.
Global rebar offers in week 30 (18-24 Jul’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 330-335 | -4 |
| CIS export FoB Black Sea | 350-355 | -5 |
| Turkey export FoB main port | 372-378 | 0 |
| UAE import CFR Jebel Ali | 382-388 | 0 |
| India (ex-works Mumbai) | 365-375 | -5 |
USD 1 = INR 67.12, USD 1 = RMB 6.6669
Source: SteelMint Research
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