Posted on 19 Aug 2022
The rebar import market continues to be sluggish in Singapore and Hong Kong this week, Kallanish notes. Slow demand is still preventing prices from lifting.
A Malaysian mill’s offer for blast furnace theoretical-weight rebar for September shipment is unchanged at $610-620/tonne delivered-at-place (dap) Singapore, some importing sources say. But traders report there is also material from the same Malaysian mill available at $605/t dap. “Demand is not good everywhere,” a Singapore trader says on the lower price tag.
A trader is gathering orders at $580/t cfr for 10,000 tonnes of Middle Eastern theoretical-weight rebar, yet unsold for a 25,000t cargo. Market participants believe this cargo is due for September shipment. Kallanish assessed BS4449 500B 10-40mm diameter rebar at $600/t cfr Singapore theoretical weight, unchanged on-week.
In Hong Kong, blast furnace rebar from the above-mentioned mill is heard to have sold at $610/t cfr Hong Kong actual weight, trading sources report. An importer says the local rebar market has been sluggish. “Local contracts are slow,” he says. He notes that offers for imported rebar are “stagnant” at $620-630/t cfr Hong Kong.
Source:Kallanish
