Posted on 17 Jan 2025
Prices have risen on the rebar import markets in Singapore and Hong Kong, Kallanish notes, amid improved Chinese futures steel futures. However, the uptick in offers has not yet spurred increased buying.
A leading Malaysian blast furnace mill’s theoretical-weight rebar is heard at $485-490/tonne dap (trucked to) Singapore, up $5/t on last week. The dap Singapore basis price is estimated to be $5-10/t higher than on a cfr Singapore basis.
Chinese rebar offers for March/April shipments have also risen to $485-495/t cfr Singapore, up $5/t from last week. Suppliers are unable to supply at $485/t cfr, says a Singapore trader who sees offers at $490-495/t cfr. "Nobody is buying," another notes.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $480-485/t cfr Singapore theoretical weight, up $5/t week-on-week.
In Hong Kong, Chinese actual-weight rebar for March shipment is being offered at around $490-495/t cfr, up from $485/t cfr. Malaysian- and Vietnamese-origin offers are not heard this week.
The market is quiet because Hong Kong users can wait before restocking.
“We have no interest for March [shipment]. We still have some stocks,” an importer says. He thinks buying could return if traders need to cover their forward contracts for May.
Source:Kallanish
