China’s rebar offers in both domestic and export markets have moved up further during week 34.
Chinese rebar export offers have been increasing gradually since the starting of Aug’16. At present, it is hovering in the range of USD 345-350/MT, FoB Main Port; slightly up by USD 5/MT in a week’s time.
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 2,450/MT (USD 370).
Similarly, the same grade material in Shanghai stood at around RMB 2,430/MT (USD 367); up by RMB 20/MT (USD 3) in the duration.
CIS export offers and UAE imported prices have upsurged by USD 6-8/MT in the same duration.
However, export offers in Turkey fell by around 18/MT owing to weak demand.
Global rebar offers in week 34 (15-21 Aug’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 345-350 | +5 |
| CIS export FoB Black Sea | 357-362 | +8 |
| Turkey export FoB main port | 370-375 | -18 |
| UAE import CFR Jebel Ali | 385-390 | +6 |
| India (ex-works Mumbai) | 365-370 | +5 |
USD 1 = INR 67.13, USD 1 = RMB 6.62
Source: SteelMint Research
Leave a Reply