Posted on 26 Jan 2024
The rebar import market is still sluggish in Singapore, Kallanish notes. Suppliers are maintaining offers but buying interest is thin.
A Malaysian mill’s offer for theoretical-weight rebar has been more or less maintained at around $570-575/tonne trucked to Singapore, equivalent to $565-570/t cfr Singapore. This would apply for minimum 10,000-tonne orders. “The market is slow but prices are still around $570,” a Singapore trader notes.
Another says the approaching Lunar New Year could be a reason why the market is quiet. “But prices are rising because of the Chinese government’s announcement to lower bank reserve requirements,” he notes. Kallanish assesses BS4449 500B 10-40mm diameter rebar at $560-565/t cfr Singapore theoretical weight, unchanged on-week.
Actual-weight rebar from the same Malaysian mill is offered at $575-580/t cfr Hong Kong, up from $570/t cfr last week.
Source:Kallanish
