Market Overview
Singapore’s rebar import market has been subdued this week due to weak sentiment, with limited trading activity. Suppliers have maintained offer prices at levels similar to last week, while buyers continue to adopt a wait-and-see approach. The overall market remains quiet, reflecting bearish sentiment.
Offers from Malaysia and China
- Malaysian Rebar: A major Malaysian blast furnace mill is offering theoretical-weight rebar for January/February shipment at $495/tonne delivered (dap) to Singapore, slightly down from last week’s $500/tonne dap. The dap Singapore price is estimated to be $5-10/t higher than the cfr Singapore price. Buyers suggest that mills may accept lower prices if firm bids are presented.
- Chinese Rebar: Offers for Chinese-origin theoretical-weight rebar for January/February shipment hover around $500/tonne cfr Singapore, reflecting a $5/t drop compared to the previous week.
Market Sentiment and Price Assessment
Market participants describe the sentiment as bearish, with buyers hesitant to engage due to uncertain market conditions.
- Kallanish’s Assessment: BS4449 500B grade rebar (10-40mm diameter) was assessed at $485-490/t cfr Singapore theoretical weight, which is a decline of $5/t from last week.
The combination of weak buyer activity and slight downward pressure on prices highlights ongoing challenges in Singapore’s rebar import market.
