In Mar’17, the rebar export offers by the major exporter countries fall by USD 6-35/MT. China export offers plunge majorly by USD 35/MT, M-o-M.
Chinese rebar export prices have seen a sharp fall in the Mar’17 in line with the fall in other global markets. Offers shrink up to USD 35/MT and stood at USD 440-450/MT FoB main port.
During March, the Chinese market remained highly volatile due to bearish demand and the volatile semis prices.Also, the Chinese export offers were not competitive as with the offers provided by other countries like CIS & Turkey.
Other global markets also saw a slight fall in rebar export offers following the sluggish demand and volatility in the Semis Prices. Current offers for CIS export is USD 420-425/USD (fall by USD 6/MT), FoB Turkey was assessed at USD 415-420/MT (down by USD 16/MT). USA Imports offers assessed at USD 430-440/MT with a fall of USD 3/MT in same duration.
Domestic price movement in China
Meanwhile, domestic/spot rebar prices for HRB 400 grade (25 mm) in Beijing moved down by RMB 200/MT (USD 29 ) within a month and stood at RMB 3,630/MT (USD 526). The same grade material in Shanghai is at RMB 3,570/MT (USD 518); down by RMB 130/MT (USD 18) in the same duration.
Outlook for Apr’17
It is expected that the Chinese Rebar market to bounce back for April’17 after declining rigorously in Mar’17.
Turkish rebar prices to improve in April as the construction sector and the weather both are improving which is enhancing the seasonal demand in Turkey.
Global Rebar Export Offers as On 31 Mar’17
|
Country-wise |
Offers in USD/MT |
M-o-M |
| China export FoB main port | 440-445 | -35 |
| CIS export FoB Black Sea | 420-425 | -6 |
| Turkey export FoB main port | 415-420 | -15 |
| UAE import CFR Jebel Ali | 430-440 | -3 |
USD 1 = INR 65.04, 1 USD= RMB 6.89/MT
Source: SteelMint Research
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