Posted on 09 Jun 2023
The rebar import market is muted in East Asia, with limited activity and offers being reported, Kallanish notes. Most buyers are waiting on the sidelines unless they are able to pick up bargains.
A Malaysian mill is directly offering theoretical-weight rebar at $555-560/tonne delivered by truck or around $545-550/t cfr Singapore. Last week, the offer heard was $560/t delivered by truck. Traders also report that a trader’s position cargo for 10,000 tonnes of the Malaysian mill’s rebar for July shipment was sold last week to a leading Singapore stockist at $540/t cfr.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $545-550/t cfr Singapore theoretical weight, down $5 on-week.
Some trading sources report hearing market rumours that a Chinese rebar booking took place this week at $560/t cfr Singapore. “I doubt if this is true,” a Singapore trader says on the higher-than-expected market price. “Maybe there was more 10mm diameter in the cargo,” another opines.
Saudi Arabia-origin actual-weight rebar for July/August shipment is offered at $560/t cfr Hong Kong. The mill rejected a low-priced bid for theoretical-weight rebar at $535/t cfr Singapore in the past week.
Source:Kallanish
