Chinese steel prices marginally fall after continuous price rally.
Chinese rebar export offers are hovering in the range of USD 445-450/MT, FoB main port, decreased by about USD 5-8/MT W-o-W after a continuous rally seen since starting Oct’16.
Meanwhile, domestic spot rebar prices for HRB 400 grade (25 mm) in Beijing have decreased by RMB 230/MT (USD 33) within a week and stood at RMB 3,050/MT (USD 440).
Similarly, the same grade material in Shanghai stood at RMB 3,230/MT (USD 465); down by RMB 190/MT (USD 27) in the same duration.
However, other global markets reported increase in rebar offers – Turkey export rebar and UAE imported rebar offers increases by USD 7-8/MT in the same duration and stood at USD 440-445/MT.
Global Rebar Offers in Week 52 (19-25 Dec’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 445-450 | -6 |
| CIS export FoB Black Sea | 420-425 | 0 |
| Turkey export FoB main port | 440-445 | +8 |
| UAE import CFR Jebel Ali | 440-445 | +7 |
| India (ex-works Mumbai) | 440-450 | +30 |
USD 1 = INR 67.82, USD 1 = RMB 6.94
Source: SteelMint Research
Leave a Reply