1. Turkish Rebar Exporting Price(fob) is $380/mt. It is decreased 14% since 10th Jan.
-> HRC price of Middle East is below $400/mt. So Rebar price may be decreasing again upto $350/mt.
2. Chinese Billet Price is $390/mt(Ex-work, VAT exlusive). Its sentiment looks strong.
-> with Easing Corona Effect in China, steel demand is rebouding in China.
-> Chinese Rebar Exporting Price is $392/mt(fob). It means that Billet price is over-shooted.
3. Now, middle east rebar will go to Asian market with above situation.
4. Chinese HRC exporting price is $410/mt(fob), European HRC importing price is $457/mt(cif), US HRC importing price is $580/mt(ddp).
-> due to Europe & US's shut-down, Chinese HRC price will catch-up Europe & US HRC price.
5. India & Middle East Mills are starting to offer dumping price to the middle east market. so Chinese steel importing will be decreased for the time being. but Korean & Japanese Mills who have main customers in US & Europe will join the dumping competition in long distance market to keep their operation.
<Information Source : Platts>
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