Rebar export offers from China have fluctuated by USD 5-10/MT in Dec’15. Meanwhile, CIS export offers down by USD 5/MT, however, offers from Turkey were stable in the duration.
Rebar export offers from China have fluctuated by USD 5-10/MT in Dec’15. Offers stood at around USD 257-260/MT in the starting of Dec’15 but came down to USD 252/MT in the middle of the month and then gain by USD 5-8/MT at the end.
While, CIS rebar export offers down by USD 5/MT in last one month, but Turkey offers have remained more or less stable throughout Dec’15.
Imported rebar offers in UAE market have fallen by USD 9-10/MT in the same period and stood at USD 330-335/MT, CFR JebeI Ali.
The most-traded May rebar on the Shanghai Futures Exchange down by almost RMB 14/MT (USD 1.8/MT) to RMB 1,775/MT (USD 271/MT) today as compared to previous day closing.
Global rebar offers in week 1 (28 Dec’15- 3 Jan’15)
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 255-260 | -2 |
| CIS export FoB Black Sea | 287-290 | -5 |
| Turkey export FoB main port | 335-340 | 0 |
| UAE import CFR Jebel Ali | 330-335 | -9 |
| India (ex-works Mumbai) | 411-415 | +30 |
USD 1 = INR 66.80
Source: SteelMint Research
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