Chinese rebar export offers have been declining continuously for the past four weeks. Export offers which were hovering in the range of USD 355-360/MT in the beginning of Sep’16, now stand at USD 335-340/MT FoB main port.
While on W-o-W basis, Chinese export offers fell by around 5-10/MT.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also decreased by RMB 30/MT (USD 5) within a week and stood at around RMB 2,400/MT (USD 360).
Similarly, the same grade material in Shanghai stood at around RMB 2,260/MT (USD 340); down by RMB 40/MT (USD 6) in the same duration.
However, UAE imported rebar offers and Turkey export offers remained steady in the past three weeks.While, export offers in CIS countries have fallen slightly by USD 5/MT and stood at USD 355-360/MT.
Global rebar offers in week 39
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 335-340 | -10 |
| CIS export FoB Black Sea | 355-360 | -5 |
| Turkey export FoB main port | 365-370 | 0 |
| UAE import CFR Jebel Ali | 365-370 | 0 |
| India (ex-works Mumbai) | 385-390 | +5 |
USD 1 = INR 66.63, USD 1 = RMB 6.66
Source: SteelMint Research
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