Rebar export offers in China have inched up during a week. Also, global rebar offers have moved up by 53-68% since the early of Feb’16.
Chinese rebar export offers stand at around USD 420/MT, FoB main port; have marginally up by USD 5/MT in a week’s time.
Similarly, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have moved up by RMB 50/MT (USD 8/MT) within a week and stood at around RMB 3,030/MT (USD 466/MT).
However, the same grade material in Shanghai stood at around RMB 2,880/MT (USD 443/MT); slightly down by RMB 20/MT (USD 3/MT) in the duration.
Internationally, rebar offers have started rising at a faster rate since early of Feb’16. Chinese rebar export offers up by 58%, Turkey offers by 53% and CIS by 68%. Besides, UAE imported rebar offers have also surged by 53%.
Global rebar offers in week 18 (25 Apr -1 May’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 420 | +5 |
| CIS export FoB Black Sea | 475-480 | +30 |
| Turkey export FoB main port | 492-497 | +30 |
| UAE import CFR Jebel Ali | 498 | +29 |
| India (ex-works Mumbai) | 410-415 | -5 |
USD 1 = INR 66.38, USD 1 = RMB 6.4589
Source: SteelMint Research
Note Prices in USD/MT; FoB Main Port
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