Posted on 25 Aug 2023
The rebar import market in Singapore and Hong Kong continues to be soft this week, Kallanish notes.
Theoretical-weight rebar from Malaysia is offered at $545/tonne delivered by truck (dap) to Singapore, or $535/t cfr Singapore, unchanged from last week. Trades could possibly take place at $540/t dap, a Singapore trader says on Thursday. A Chinese trader hears that theoretical-weight rebar from Qatar is offered at around $535/t cfr Singapore, but others do not hear of this particular offer.
A leading Vietnamese mill is currently offering rebar to Singapore at $550-555/t cfr Singapore. “Certain traders are fulfilling their forward contract obligations for September and October 2023 shipments,” a Singapore trader reports. He hears that they are buying the Vietnamese rebar at around $545-550/t cfr Singapore.
The Vietnamese mill's offer for actual-weight rebar is $540/t fob this week, a Vietnamese mill manager says. This could be equivalent to $555/t cfr, a Hong Kong buyer says. He says that offer prices are still low and that only Chinese prices are increasing. Actual-weight rebar from Qatar for September/October shipment is offered at $555/t cfr, he adds.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $535-545/t cfr Singapore theoretical weight, up $2.5 on-week.
Source:Kallanish
