BEIJING: Rebar export offers of China have slightly declined this week after the prices kept going up for past five weeks. Chinese rebar export offers are presently hovering in the price range of $395-400 per MT, free on board (FoB) main port, fall of $6 per MT on week-on-week basis.
In the meantime, domestic steel rebar prices in Beijing for 25 mm HRB 400 grade have also declined by $32 per MT (220 Chinese Yuan) within a week and stood at $399 per MT (around 2,740 Chinese Yuan). In Shanghai, the prices of steel rebar of HRB 400 grade material stood at around $413 per MT (2,840 Chinese Yuan), a decline of $25 per MT (170 Chinese Yuan) in the duration.
On the other hand, the world markets recorded an increase in rebar offers. In Commonwealth of Independent States (CIS) region, the rebar export offers have increased by $13 per MT. The UAE import and Turkey export rebar offers are stagnant at $435-440 per MT. Rebar or reinforcing bar is widely used in the construction sector, mainly for concrete reinforcement. The steel rebar is usually used as a tensioning device for concrete reinforcement and other masonry structures to support hold the concrete in a compressed state.
