China’s rebar export offers increased after stability in prices during week 30.
Chinese rebar export offers are currently hovering in the range of USD 330-335/MT, FoB Main Port; slightly uptick by USD 5/MT in a week’s time.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also moved up by RMB 50/MT (USD 8) within a week and stood at around RMB 2,380/MT (USD 357).
Similarly, the same grade material in Shanghai stood at around RMB 2,320/MT (USD 348); fell by RMB 50/MT (USD 8) in the duration.
Export offers in other international market like Turkey have slightly moved up by USD 3/MT. CIS export offers remain unchanged in the same time.
South East Asian market like UAE reported a fall of USD 5/MT W-o-W in offers.
Global rebar offers in week 31 (25-31 Jul’16)
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 335-340 | +5 |
| CIS export FoB Black Sea | 350-355 | 0 |
| Turkey export FoB main port | 375-380 | +3 |
| UAE import CFR Jebel Ali | 378-383 | -5 |
| India (ex-works Mumbai) | 365-375 | -5 |
USD 1 = INR 67.01, USD 1 = RMB 6.6511
Source: SteelMint Research
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