Posted on 18 Aug 2023
The rebar import market in Singapore has weakened slightly this week. Demand from end-users remains sluggish.
Theoretical-weight rebar from Malaysia is offered at $545/tonne delivered by truck (dap) to Singapore, or $535/t cfr Singapore, down $5/t from last week. There are also offers for Middle Eastern rebar at $545/t cfr, Singapore traders say. Buyers are looking for under $540/t cfr/dap levels, a Chinese trader observes. Kallanish assessed BS4449 500B 10-40mm diameter rebar at $535-540/t cfr Singapore theoretical weight, down $5 on-week.
In Hong Kong, offers for actual-weight rebar from the Middle East are still prevailing at around $555/t cfr Hong Kong. “But there is not much interest,” an importer says.
Meanwhile, Vietnam’s Hoa Phat has lowered its domestic rebar prices by VND 100/kg ($4/t) effective 16 August. The firm’s domestic price for 16mm and up diameter rebar is now at around VND 13,800/kg ($577/t). “The rebar market in Vietnam has been weak for a long time,” a southern Vietnamese mill manager notes.
Source:Kallanish
