Posted on 13 Jan 2023
The rebar import market in Singapore continues to rise in tandem with positive sentiment surrounding the Chinese steel market, Kallanish notes. Suppliers want to hike offers whereas buying prices are still trailing behind.
Middle Eastern theoretical-weight rebar is offered at around $645/tonne cfr Singapore. The material is heard to be a direct offer from Oman, Singapore-based trading sources say. Last week, the same mill’s offer was heard at $620/t cfr Singapore and it previously sold a rebar cargo at $595/t cfr last month.
A Malaysian blast furnace mill is offering theoretical-weight rebar for March shipment at $630/t delivered to Singapore. Kallanish assessed BS4449 500B 10-40mm diameter rebar at $610-615/t cfr Singapore theoretical weight, up $10 on-week.
A booking for 30,000 tonnes of actual-weight rebar from the above-mentioned Malaysian mill closed at $630/t cfr Hong Kong last week. The cargo was for March shipment. “That was for last week; prices have gone up this week,” a Hong Kong importer says. Offers from the mill are now at $645/t cfr and even higher, he adds.
Source:Kallanish
