Posted on 21 Mar 2025
ASEAN markets for imported rebar and wire rod are steady, with prices slowly ticking higher amid ongoing stock replenishment by some users, Kallanish notes.
A leading Malaysian blast furnace mill’s theoretical-weight rebar for April delivery is offered at $480/tonne dap (trucked to) Singapore, compared to $475-480/t dap last week. The dap Singapore basis price is estimated to be $5-10/t higher than on a cfr Singapore basis.
Some trading sources hear that a leading stockist is active in the market and has been buying from a Malaysian mill and a large Chinese producer.
The Malaysian mill is able to deliver small quantities daily to Singapore, a Singapore trader notes, whereas the Chinese mill will ship larger quantities in bulk. The stockist will “continue to buy” because it has secured the award for a large portion of a government construction project, he says.
Chinese theoretical-weight rebar is now offered at $480-490/t cfr Singapore.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $475-480/t cfr Singapore theoretical weight, up $5/t week-on-week.
A leading Vietnamese mill was offering its actual-weight 500B rebar for April shipment at $515/t fob this week. The mill sold to the US at around the same price level at end-February and early March (see Kallanish passim).
The Vietnamese mill’s base offer for wire rod, also for April shipment, is prevailing at $545/t fob, while leading Indonesian mill Dexin Steel is offering wire rod for June shipment at much higher – $490/t fob – as of 20 March. The Indonesian mill's wire rod offer for May shipment was at $475/t fob on 13 March.
Meanwhile, the wire rod import market in Manila is relatively stable, with offers for mesh-grade 6.5mm and up diameter Chinese Q195 grade wire rod for April shipments at $465-470/t cfr. There is some buying interest for lots of around 5,000 tonnes, local trading sources said on Thursday.
Same grade and size wire rod from China is heard offered at $465/t cfr Vietnam. These low-priced Chinese offers are believed to be cargoes shipped without full payment of Chinese VAT.
Kallanish assessed SAE 1008 6.5mm-diameter wire rod at $465/t cfr Manila, up $2.5/t on-week.
Source:Kallanish
