Posted on 19 Sep 2025
Chinese wire rod offers are inching up this week in the Philippines, Kallanish notes. At the same time, the rebar import market was stable in Singapore.
After Chinese wire rod offers stabilised in Manila last week, offers are creeping up again amid the drying up of non-VAT Chinese wire rod. Offers for mesh-grade 6.5mm diameter Chinese Q195 wire rod for end-October/first-half-November shipment are generally at $500-505/tonne cfr, with some touching $510/t cfr. Offers were at $495/t cfr Manila last week.
“Suppliers now claim to be offering with VAT,” a Manila trader says. Several small tonnage deals for October shipment took place last week, and at around $495/t cfr on Thursday. He notes that the cargoes stipulate October shipment but will be shipped out this month.
Kallanish assessed SAE 1008/Q195 6.5mm-8mm diameter wire rod at $495/t cfr Manila, up $5/t on-week.
However, the Chinese wire rod market is sluggish in Thailand because of weak demand, Bangkok-based traders say. Chinese 6.5mm diameter Q195/SAE1006B wire rod for October/November shipment are at $505-510/t cif, unchanged from last week, Bangkok trading sources say. A leading Malaysian exporting mill’s offer is heard at $500/t cif.
"Many buyers here say that deals have fixed at below $498/t cif," says a Bangkok trader who has been unsuccessful in raising prices. He believes that Chinese low-carbon wire rod deals have concluded at $495/t cif Bangkok.
In Vietnam, a prompt September-shipment offer of 500t of SAE1006/SAE1008 grade 6.5mm wire rod is seen at $483/t cfr Ho Chi Minh.
Meanwhile, a leading Malaysian mill’s offer for theoretical-weight rebar has slipped to $480/t dap (trucked to) Singapore for November deliveries, down $5/t from last week. The dap basis price is estimated to be $5-10/t higher than on a cfr Singapore basis. This mill is also offering wire rod to Thailand.
Theoretical-weight rebar for November shipment from a certain Chinese mill is similarly priced at $480/t cfr Singapore unchanged from last week. Some traders say they hear that the Malaysian mill may be willing to lower its target sales price to $475/t dap.
The Singapore rebar market was muted this week with no bookings heard concluded, trading sources say. Kallanish assessed BS4449 500B 10-40mm diameter rebar at $470-475/t cfr Singapore, down $5/t on-week.
Source:Kallanish
