Posted on 06 Oct 2023
The rebar import market in Singapore is muted, Kallanish notes. Many suppliers are not active now, trading sources say.
“It is very quiet as no Chinese traders are present [amid the Golden Week holiday],” a regional trader notes.
Offers from exporting mills into Singapore have risen slightly this week. Quotes moved up because raw materials are firm, a Singapore trader notes. A Malaysian mill’s offer for theoretical-weight rebar is heard this week at $550/tonne delivery by truck (dap), which would be equivalent to $545/t cfr Singapore. Last week, the mill's offer was at $545/t dap. Similarly, offers from the Middle East and Vietnam are currently at $545-550/t cfr, compared to $540-550/t cfr last week.
Another Singapore trader says he has not been hearing of bids but believes that buyers are still aiming to book at $535/t dap for Malaysian rebar. This level would be equivalent to the last transaction concluded two weeks ago. For that deal, 40,000-50,000 tonnes of theoretical-weight rebar from the Middle East was ordered at around $530/t cfr Singapore.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $530-535/t cfr Singapore theoretical weight, unchanged on-week.
Source:Kallanish
