Turkey export rebar offers have fallen sharply by upto USD 18/MT W-o-W; other markets have witnessed a slight price corrections.
In global rebar market, major fall of USD 18/MT to USD 327/MT has been seen in the Turkey export offers in a week on account of declining scrap prices and weak demand.
Others markets like UAE, rebar import prices have declined by USD 8/MT owing to unsupportive demand in domestic market. Currently, prices are assessed at USD 337/MT, CFR Jebel Ali.
A slight fall of USD 2.5/MT to USD 310/MT has been seen in the CIS export rebar offers in a week. While, export offers from China remain unchanged at USD 273/MT for the last two weeks.
In current week, most traded Jan’15 rebar contract on the Shanghai Futures, has closed at RMB 1,832/MT; has slipped by 0.2% on Friday compared to a day before.
Global rebar offers as on 14 Oct’15
|
Country-wise |
Offers in USD/MT |
W-o-W |
| China export main port FoB | 273 | 0 |
| CIS export FoB Black Sea | 310 | -3 |
| Turkey Export FoB main port | 327 | -18 |
| UAE import CFR Jebel Ali | 337 | -8 |
| India (ex-works Mumbai)* | 405 | -4 |
USD 1 = INR 65.16
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