Chinese rebar prices moves up on account of rising raw-material prices.
Chinese rebar export offers are currently hovering in the range of USD 355-360/MT, FoB Main Port; up by USD 5/MT W-o-W. Prices has been continuously moving up since the starting of the month on account of sharp rise in iron-ore and coal prices in the same duration.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 30/MT (USD 2) within a week and stood at around RMB 2,430/MT (USD 357).
Similarly, the same grade material in Shanghai stood at around RMB 2,440/MT (USD 350); up by RMB 90/MT (USD 10) in the duration.
Other global markets like CIS export and UAE imported reported increase in export offers, CIS offers have rise by USD 20/MT, UAE imported offers by up USD 7/MT in the duration. However, Turkey rebar export offers unchanged.
Global Rebar Offers in Week 44
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 355-360 | +5 |
| CIS export FoB Black Sea | 375-380 | +20 |
| Turkey export FoB main port | 382-387 | 0 |
| UAE import CFR Jebel Ali | 382-387 | +7 |
| India (ex-works Mumbai) | 405-415 | 0 |
USD 1 = INR 66.77, USD 1 = RMB 6.78
Source: SteelMint Research
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