Chinese finish steel export surged by 28% to about 65.4 MnT during Jan-Aug’15 as compared to previous year.
After a national holiday in China, rebar export offers open with no changes and stood at USD 272.5/MT. In the current week, most traded Jan’15 rebar contract on the Shanghai Futures closed at RMB 1,852/MT (USD 292/MT); up by RMB 26/MT (USD 4/MT) on Friday as compared to earlier day.
In Turkey also, rebar export offers unchanged despite weak demand in the market and stood at USD 340-350/MT, FoB.
But, a slight fall of USD 5-13/MT is seen in the UAE and CIS rebar market. Currently, imported rebar in UAE stood at USD 345/MT. While in other Middle East countries like Saudia Arabia, offers are in the range of USD 330-340/MT.
Global rebar offer as on 9 Oct’15
|
Country-wise |
USD/MT |
W-o-W |
| China export main port FoB | 272.5 | 0 |
| CIS export FoB Black Sea | 312.5 | – 12.5 |
| Turkey export FoB main port | 345 | 0 |
| UAE import CFR Jebel Ali | 345 | – 5 |
| India (Ex-works Mumbai) | 407 | – 2 |
Note: 1USD= INR 64.76,
Source: SteelMint Research
China’s finish steel exports up 28% during Jan-Aug’15
Chinese total finish steel exports raised by 28% to 65.4 MnT in the first eight months of 2015 against the same period in previous year, as per Alacero (the Latin American steel Association). Out of total exports, Latin America accounted for 8.7%, China (a major export steel market for South Korea) for 13%, Vietnam for 9.5%, South East Asian and North Korea for 27% in the same period.
China’s total finish steel export
|
Countries |
Unit in MnT |
% share of Chinese finish steel exports |
| South East Asian countries and North Korea | 17.5 | 27% |
| Latin America | 5.7 | 8.7% |
| South Korea | 8.5 | 13% |
| Vietnam | 6.2 | 9.5% |
| Others | 27.5 | 42% |
| Total | 65.4 |
Source: SteelMint Research
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