Chinese rebar export offers have moved down by USD 8/MT W-o-W. While, CIS offers fell sharply by USD 37/MT.
Chinese rebar export offers have fallen by around USD 8/MT W-o-W and stand at USD 300/MT, FoB Main Port.
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing up by RMB 10/MT (USD 1.6) within a week and stood at around RMB 2,100/MT (USD 319). The same grade material in Shanghai is witnessed at around RMB 2,100/MT (USD 319); up by RMB 50/MT (USD 6) in the duration.
On the same period, export offers in other global markets like CIS countries have slumped by USD 37/MT. While, Turkey export offers and UAE imported offers have reported no major changes.
Global rebar offers as on 25 Jun’16
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 300 | -8 |
| CIS export FoB Black Sea | 375 | -37 |
| Turkey export FoB main port | 405 | +3 |
| UAE import CFR Jebel Ali | 402 | -2 |
| India (ex-works Mumbai) | 380-385 | -5 |
USD 1 = INR 67.88, USD 1 = RMB 6.5776
Source: SteelMint Research
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