In a week’s time, Chinese rebar export offers have moved up by USD 5/MT. While, offers in other market like Turkey and CIS nations remain stable.
Chinese rebar export offers have increased in the last one week with the support of recovery in the domestic market.
Export rebar prices stood at around USD 270-275/MT; have moved up by USD 5/MT in a week’s time.
Similarly, domestic rebar prices for HRB 400 grade (25 mm) in Beijing have risen by RMB 70/MT (USD 11/MT) in a week’s time and stood at around RMB 1,950/MT (USD 299/MT). The same grade material in Shanghai stood at around RMB 1,900/MT (USD 291/MT); offers up by RMB 50/MT (USD 8/MT) in the period.
However, export offers in other global rebar market like Turkey and CIS remain stable in a week’s time.
Global rebar offers in week 9 (22-28 Feb’16)
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export FoB main port | 270-275 | +5 |
| CIS export FoB Black Sea | 285-290 | 0 |
| Turkey export FoB main port | 310-315 | 0 |
| UAE import CFR Jebel Ali | 320-325 | 0 |
| India (ex-works Mumbai) | 400-405 | -5 |
USD 1 = INR 68.70
Source: SteelMint Research
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