Posted on 20 Jan 2023
The rebar import market in Singapore and Hong Kong has risen further, Kallanish notes. Recent deals in the two regions reflect importers’ acceding to sharp price hikes.
A 20,000-tonne lot of Malaysian-origin blast furnace theoretical-weight rebar was booked at $645/tonne delivered to Singapore this week. This would be equivalent to around $635/t cfr Singapore. The same Malaysian mill also sold another lot, for 30,000t of actual-weight rebar at $645/t cfr Hong Kong. These are both for March shipment.
Comparing the two deals, there is a notable discount for the actual-weight rebar to theoretical weight. “It is likely due to the larger quantity,” a Singapore trader says on the Hong Kong-destined cargo. “For rebar by-truck into Singapore, there may not be too much savings for bigger volumes,” he notes.
Offers for theoretical-weight rebar from the Malaysian mill are heard this week at $640/t delivered Singapore. Chinese rebar is offered at around $655-660/t cfr Singapore. Middle Eastern rebar is currently offered at $650/t cfr, up $5 on-week. Actual-weight rebar from Oman was heard earlier this week to have concluded at $645/t cfr Hong Kong.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $635/t cfr Singapore theoretical weight, up $22.5/t on-week.
Source:Kallanish
