Indian BF grade rebar export offers have reportedly witnessed a drop of $40-45/t on a week-on-week (w-o-w) basis amid volatile rebar futures on the Shanghai Futures Exchange (SHFE). On 1 June’21, the Oct ’21 rebar futures contract opened with a drop of RMB 86/t to RMB 4,941/t ($775/t). Last-heard offers for BF grade rebar were at around $730-735/t, CFR Hong Kong, on an actual weight basis, SteelMint learnt from sources. However, traders pointed to limited buying interest as they are sufficiently booked.
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