Rebars export offers from China, CIS and Turkey remain unchanged in a week’s time. However, UAE offers fell by USD 10-12/MT.
Rebar export offers from China, Russia and CIS countries are more or less stable in a week’s time. Trade activities are very slow, especially in China as participants are waiting for tax rebate policy on specific rebar products.
While, imported rebar offers in UAE market have fallen by USD 10-12/MT in the same period and stood at USD 330/MT, CFR JebeI Ali.
The most-traded May rebar on the Shanghai Futures Exchange gained by almost RMB 10/MT (USD 1.6/MT) to RMB 1,728/MT (USD 276/MT) as compared to previous trading day.
Global rebar offers in week 52 (21-27 Dec’15)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 252-255 | 0 |
| CIS export FoB Black Sea | 287-290 | 0 |
| Turkey export FoB main port | 335-340 | 0 |
| UAE import CFR Jebel Ali | 330-335 | -12 |
| India (ex-works Mumbai) | 408-410 | +20 |
USD 1 = INR 66.09
Source: SteelMint Research
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