Chinese rebar export offers are currently hovering in the range of USD 403-405/MT, FoB Main Port, increased by USD 8/MT W-o-W.
Meanwhile, domestic spot rebar prices for HRB 400 grade (25 mm) in Beijing have also increased by RMB 160/MT (USD 24) within a week and stood at around RMB 2,900/MT (USD 399).
Similarly, the same grade material in Shanghai was firm at RMB 3,080/MT (USD 420); up by RMB 240/MT (USD 34) in the same duration.
On the similar lines, other global markets reported increase in rebar offers – CIS offers have risen by USD 13/MT, While Turkey export rebar offers slightly fell by USD 6/MT.
Global Rebar Offers in Week 48 (21-27 Nov’16)
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 403-408 | +8 |
| CIS export FoB Black Sea | 420-425 | +13 |
| Turkey export FoB main port | 430-435 | -6 |
| UAE import CFR Jebel Ali | 440-445 | +2 |
| India (ex-works Mumbai) | 405-415 | 0 |
USD 1 = INR 68.49, USD 1 = RMB 6.91
Source: SteelMint Research
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