Posted on 28 Apr 2023
Offer prices for imported rebar have fallen sharply in Singapore and Hong Kong, Kallanish notes.
In Singapore, a Malaysian mill’s theoretical-weight rebar is now heard offered at $600-605/t delivered by truck to Singapore (or $590-595/t cfr), down from $620/t last Thursday. Kallanish assessed BS4449 500B 10-40mm diameter rebar at $590-595/t cfr Singapore theoretical weight, $15 lower on-week. “The market is very soft now,” a Singapore trader says.
Another trader hears a 25,000t cargo of theoretical-weight rebar from Oman booked last week at $610-615/t cfr Singapore. The cargo is due for prompt May shipment. Trading sources in Singapore do not hear of more recent deals.
Theoretical-weight rebar from a wide range of Chinese mills is currently offered at $600-610/t cfr Singapore, a Singapore buyer says. A trader hears actual-weight rebar offers from China have fallen to $610/t cfr Hong Kong on Wednesday, down $20-30/t from last week.
Middle Eastern and Vietnamese theoretical-weight rebar offers have fallen by a smaller margin to $615/t cfr Singapore, $5/t lower than last week.
Source:Kallanish
