Chinese rebar export offers continue to move up in Week 43.
Chinese rebar export offers are currently hovering in the range of USD 350-355/MT, FoB Main Port; up by USD 10/MT W-o-W.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 30/MT (USD 5) within a week and stood at around RMB 2,430/MT (USD 362).
Similarly, the same grade material in Shanghai stood at around RMB 2,440/MT (USD 361); up by RMB 90/MT (USD 14) in the duration.
Other global markets like Turkey and CIS reported increase in export offers, CIS offers have rise by USD 15/MT, Turkey by USD 13/MT, UAE imported offers by up USD 10/MTiin the duration.
Global Rebar Offers in Week 43
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 350-355 | 10 |
| CIS export FoB Black Sea | 350-360 | 15 |
| Turkey export FoB main port | 380-390 | 13 |
| UAE import CFR Jebel Ali | 365-370 | 10 |
| India (ex-works Mumbai) | 400-410 | -5 |
USD 1 = INR 66.91, USD 1 = RMB 6.75
Source: SteelMint Research
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