Posted on 22 Dec 2023
Rebar prices have remained unchanged in Singapore, Kallanish notes. The market is quiet because of the seasonal lull when market participants take year-end holidays.
A Malaysian mill’s offer for theoretical-weight rebar remains unchanged this week at $570/tonne trucked to Singapore, which is equivalent to $565/t cfr. The workable level would be around $565/t delivered for 10,000t cargoes, a trader says. There is not much price movement during the current period as it is quiet, he notes.
Deals concluded at $560-565/t trucked to Singapore during the first week of December. The cargoes were mostly taken up by traders for position-taking.
In Hong Kong, an end-user booked actual-weight rebar from the Malaysian mill early this week at $570-572/t cfr, an importer reports. Regional sources think that the transaction price is about right. Chinese rebar from a leading mill is offered at $590/t fob theoretical-weight, unchanged from last week.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $560-565/t cfr Singapore theoretical weight, unchanged on-week.
Source:Kallanish
