Posted on 06 Jun 2025
The import markets for imported rebar and wire rod remain sluggish in ASEAN, Kallanish notes. Offers for rebar and wire rod are mostly moving sideways and regional buyers remain cautious amid market uncertainty.
Offers for mesh-grade 6.5mm diameter Chinese Q195 grade wire rod for July shipment are unchanged from last week at $465-470/tonne cfr Manila. Trading is sparse, local sources say. The public holidays this and next week have contributed to the slow market, a Manila trader says.
Kallanish assessed SAE 1008/Q195 6.5mm-8mm diameter wire rod at $460-465/t cfr Manila, unchanged on week.
A supplier is inviting bids this week for 6.5-12mm diameter Chinese SAE 1008/Q195 wire rod, for shipment by 15 July, at $455-456/t cfr Vietnam against the offered $457/t cfr. Lower-priced Chinese wire rod offers in ASEAN are believed to be export shipments which could evade full payment of Chinese VAT.
In Thailand, the highest bid is $470/t cfr for Chinese boron-added 6.5mm Q195 grade wire rod, August shipment. This is offered at $476/t cfr.
Indonesia’s Dexin Steel lowered export prices for September-shipment 6.5mm diameter wire rod by $10/t to $505/t fob effective 31 May.
Meanwhile, the rebar market in Singapore is soft with offers dipping slightly week-on-week. A Malaysian mill’s theoretical-weight rebar offer for July delivery is heard at $460-465/t dap (trucked to) Singapore compared to $465/t dap last week. These prices are for 10,000t orders. The dap basis price is estimated to be $5-10/t higher than on a cfr Singapore basis.
Chinese rebar offers are at unchanged levels of $470-475/t cfr Singapore. But certain traders say that suppliers will accept at $465/t.
There are no deals because buyers are giving lower bids, a Chinese trader says. They want low prices because they see that the Chinese futures market is weak, he explains. Another reports hearing of a bid of $440/t dap last week which a Chinese supplier declined. “No one sees spot rebar falling to that level even though the Chinese steel futures are dropping,” he says.
Kallanish assessed BS4449 500B 10-40mm diameter rebar at $455-460/t cfr Singapore, unchanged on-week.
In Hong Kong, offers for Chinese actual-weight rebar are prevailing at similar levels of $460-465/t cfr. No deals are heard, local importing sources say.
Source:Kallanish
