Chinese rebar export offers have seen no major price change is seen in the last few weeks 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 are at RMB 3,160/MT (USD 459) and the same grade material in Shanghai is RMB 3,280/MT (USD 477); Offers in Chinese domestic market were slightly increased amid Chinese New Year Holidays.
However, offers in other global markets like Turkey, has seen sharp price fall by USD 16-18/MT to USD 390-400/MT FoB Turkey. CIS export offers reported decrease by USD 10-12/MT to USD 400-405/MT FoB Russia, while UAE import rebar offers are down by USD 18-20/MT to USD 405-410/MT CNF Dubai.
Global rebar offers as on 03 Feb’17
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 435-440 | 0 |
| CIS export FoB Black Sea | 400-405 | -12 |
| Turkey export FoB main port | 390-400 | -18 |
| UAE import CFR Jebel Ali | 405-410 | -20 |
| India (ex-works Mumbai) | 440-450 | 0 |
USD 1 = INR 67.20, USD 1 = RMB 6.87
Source: SteelMint Research
Leave a Reply