Chinese rebar export offers are hovering in the range of USD 440-445/MT, FoB main port, decreased by USD 5-10/MT W-o-W consecutively for the last two weeks.
In the beginning of Jan’16, rebar export offers in China was in the range of USD 260-265/MT which is now around USD 440-445/MT. Since then, the price has increased by about 70%.
However, other global markets reported rebar offers to be firm – CIS export offers increased by about USD 10/MT W-o-W. While, Turkey export offers and UAE imported rebar offers remain steady in the same duration and stood at USD 440-445/MT.
Global Rebar Offers in Week 53 (26 Dec’16-01 Jan’17)
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 440-445 | -7 |
| CIS export FoB Black Sea | 430-455 | +10 |
| Turkey export FoB main port | 440-445 | 0 |
| UAE import CFR Jebel Ali | 440-445 | 0 |
| India (ex-works Mumbai) | 430-440 | -5 |
USD 1 = INR 67.90
Source: SteelMint Research
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