Global rebar export offers continued to climb in week 34 where in the higher Chinese export offers pushed the price of other major exporting countries.
Chinese rebar export offers further increase by USD 5-10/MT in a week’s duration and stood at USD 555-560/MT, FoB China Main Port.
Moving to domestic market, the offers are still on the higher end as compared to the export offers. Higher offers are due to the continuous rise in futures market, active trading in billet and rising production cost. In spot market the offers are hovering in the range of RMB 3,980-4,010/MT (USD 596-600). Prices are inclusive of VAT and other taxes.
Other Global Markets:
– With Rising imported scrap and billet offers, the rebar offers for Turkish domestic as well as export market continues to strengthen further. The rebar export offers increased by USD 5-10/MT in a week’s duration and marked at USD 520-530/MT. Demand in these increased offers remained weak, sources stated.
– CIS export offers registered a remarkable growth of USD 45-50/MT, supported by the reduced availability of material, rising billet and scrap offers and growing long steel prices globally. For the week, the offers are evaluated around USD 535-545/MT.
– UAE imports remained slow in a week’s duration but the prices kept rising owing to higher export offers. The offers rose around USD 10/MT to USD 520-525/MT for week 34.
Prices on FoB Basis
Source: SteelMint Research
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