Rebar export offers from China have decreased by USD 5/MT W-o-W. While CIS, Turkey export offers have remained stable in the same period.
Rebar export offers from China have fallen by USD 5/MT in a week and stood at USD 257-262/MT, FoB China main port.
On the other hand, domestic rebar market has witnessed mixed response. Rebar prices for HRB 400 grade (25 mm) in Beijing today stand at around RMB 1,820/MT (USD 277/MT); have surged by RMB 75/MT (USD 11/MT) in a week. However, the same grade material in Shanghai stands at around 1,840/MT (280/MT); down by RMB 20/MT (USD 3/MT).
Other market like CIS, Turkey export rebar offers have remained stable during last 1-week. While, UAE imported offers have gained by USD 5/MT in the same period.
Steel demand continues to be low in 2016 : CISA
According to China Iron and Steel Association, Chinese domestic steel demand and output are likely to remain low in 2016, but it didn’t provide any estimate figure or numbers on this.
Global rebar offers in week 3 (11-16 Jan’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 257-262 | -5 |
| CIS export FoB Black Sea | 285-290 | 0 |
| Turkey export FoB main port | 335-340 | 0 |
| UAE import CFR Jebel Ali | 330-335 | +5 |
| India (ex-works Mumbai) | 405-410 | -10 |
USD 1 = INR 67.69
Source: SteelMint Research
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