Most traded Jan’15 rebar contract on the shanghai futures exchange has fallen by RMB 30/MT (USD 5/MT) in current month.
China steel futures has dipped amid fall in billet prices, which was due to continuous pressure in domestic market.
The most traded Jan’15 rebar contract on the Shanghai Futures exchange has opened today at RMB 1,791/MT (USD 282/MT); has down by RMB 30/MT (USD 5/MT) in Oct’15.
Meanwhile, billet producers based in Tangshan (China) have declined their offers by RMB 30/MT (USD 5/MT) in Oct’15. Current offers are assessed at RMB 1,620/MT (USD 255/MT) for common carbon square billet (150*150).
Related to China’s export rebar market, export offers have fallen again by USD 5/MT today as compared to last week. Currently, it is assessed in the range of USD 265-270/MT, FoB main port.
Global rebar offer as on 28 Oct’15
|
Country-wise |
Offers in USD/MT | W-o-W |
M-o-M |
| China export main port FoB | 265-270 | – 5 | -7 |
| CIS export FoB Black Sea | 305 | – 5 | -7 |
| Turkey Export FoB main port | 317 | 0 | – 28 |
| UAE import CFR Jebel Ali | 329 | + 5 | – 16 |
| India (ex-works Mumbai) | 395 | – 6 | – 12 |
USD 1 = INR 65.08
Source: SteelMint Research
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