Rebar offers in international market, including China have moved down by USD 5-25/MT in a month’s time.
Chinese rebar offers in the international market have fallen by around USD 25/MT M-o-M and stood at USD 335-340/MT, FoB main port.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing declined by RMB 60/MT (USD 9) within a month and stood at around RMB 2,390/MT (USD 358). The same grade material in Shanghai stood at around RMB 2,280/MT (USD 341); offers down by RMB 140/MT (USD 40) in the same duration.
Similarly, other global markets like Turkey and CIS reported fall in export offers, following decrease in Chinese rebar offers. CIS offers have decreased by USD 25/MT, Turkey by USD 15/MT, UAE imported offers by USD 10/MT in the duration.
While, the Indian rebar prices are running at higher level than the Chinese export offers. Currently, 12 mm rebar prices are hovering in the range of USD 410-430/MT (ex-Mumbai, excise duty & other taxes extra).
Global rebar offers as on 5 Oct’16
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 337 | -25 |
| CIS export FoB Black Sea | 337 | -25 |
| Turkey export FoB main port | 357 | -15 |
| UAE import CFR Jebel Ali | 362 | -10 |
| India (ex-works Mumbai) | 410-430 | +30 |
USD 1 = INR 66.60, USD 1 = RMB 6.67
Source: SteelMint Research
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