Rebar export offers from China have been firm since the starting of Jan’16. Export offers were in the range of USD 250-255/MT in the earlier week of Jan’16, which now stand at USD 265-270/MT, FoB main port.
However in a week’s time, Chinese rebar export offers remained to be flat owing to Lunar New Year, which is going to start from 8 Feb’16. Trading activities in the Chinese domestic rebar market will remain low in the next week.
Domestic rebar prices for HRB 400 grade (25 mm) in Beijing have risen by RMB 30/MT (USD 4.5/MT) in a month’s time and stood at around RMB 1,820/MT (USD 278/MT). Similarly, the same grade material in Shanghai stood at around RMB 1,860/MT (USD 280/MT); remain stable in the same period.
Meanwhile, CIS export offers down by USD 2/MT and Turkey offers by USD 10/MT in a month’s time. Imported rebar offers in UAE market are stable and stood at USD 325-330/MT, CFR JebeI Ali.
Global rebar offers in week 6 (1-7 Feb’15)
| Country-wise | Offers in USD/MT | M-o-M |
| China export FoB main port | 265-270 | +15 |
| CIS export FoB Black Sea | 285-290 | -2 |
| Turkey export FoB main port | 320-325 | -10 |
| UAE import CFR Jebel Ali | 325-330 | 0 |
| India (ex-works Mumbai) | 390-395 | -20 |
USD 1 = INR 67.5
Source: SteelMint Research
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