Chinese rebar offers in both domestic and export markets have increased by USD 15-25/MT in Aug’16 against Jul’16.
Chinese rebar export offers have surged by USD 25/MT M-o-M at USD 360/MT, FoB Main Port. Besides, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing have also moved up by RMB 100/MT (USD 15) within a month and stood around RMB 2,460/MT (USD 368).
The same grade material in Shanghai is available at RMB 2,400/MT (USD 360); up by RMB 70/MT (USD 10) in the duration.
However, UAE imported rebar offers have fallen by USD 15/MT in the same duration and assessed at USD 365-370/MT.
Export offers in Turkey have fallen slightly by USD 5/MT and stood at USD 370-375/MT.
Global Rebar Offers in Week 36
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 360 | +25 |
| CIS export FoB Black Sea | 362-368 | +15 |
| Turkey export FoB main port | 370-375 | -5 |
| UAE import CFR Jebel Ali | 365-370 | -15 |
| India (ex-works Mumbai) | 380-385 | +15 |
USD 1 = INR 66.46, USD 1 = RMB 6.66873
Source: SteelMint Research
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