Chinese rebar export offers remained stable at USD 260/MT. While, offers in Turkey fell by USD 13/MT in a week’s time.
Chinese rebar export offers remain unchanged in consecutively second week at USD 260/MT, FoB main port. Offers fell by USD 2/MT in Nov’15, and USD 5/MT in Oct’15.
Similarly, imported rebar offers in UAE remain unchanged in last one week and stood at USD 353/MT, CFR Jebei Ali.
On the flip side, Turkey export rebar offers down by USD 13/MT as demand seems to be weak from Middle East countries. Offers stood at USD 348/MT, FoB main port.
INR weak against USD
Indian Rupee is under pressure and depreciated by 19 paise to INR 66.76 against USD in yesterday’s trade. On 1 Nov’14, Rupee was trading at around INR 65.40 per USD, which depreciate by 2% since then. The currency has depreciated to the lowest level in last 2 years.
Global rebar offers in week 48 (23-29 Nov’15)
| Country-wise | Offers in USD/MT | W-o-W |
| China export FoB main port | 260 | 0 |
| CIS export FoB Black Sea | 297 | 0 |
| Turkey export FoB main port | 335 | – 13 |
| UAE import CFR Jebel Ali | 353 | + 0 |
| India (ex-works Mumbai) | 339 | – 5 |
USD 1 = INR 66.81
Source: SteelMint Research
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