Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
We have learned that recently, China's overall DC06EK steel quotation for Singapore's long materials has fallen again compared to the previous period. Specifically, we have heard that Chinese steel mills are quoting $520/ton CFR Singapore for rebar, while Malaysian steel mills are offering the same quote at $520/ton DAP, with a decrease of $5/ton compared to last week. In terms of transactions, we have heard that a batch of rebar orders have been imported from Hong Kong recently, with a price of $515 per ton of CFR. Singapore DC06EK steel has not yet heard of any import transactions. It is worth noting that some market participants have given us feedback that in recent times, due to some buyers holding a bearish attitude towards the future price trend of rebar, even if steel mills provide a quote close to the transaction level, which is $520/ton CFR/DAP, there are still buyers who continue to wait and wait for the price to further weaken. Traders predict that in the short term, the price of rebar from Malaysian steel mills may drop to around $515 per ton CFR Singapore, reaching the lowest price level in nearly half a month.
In terms of wire, we have heard that approximately 2000-3000 tons of wire from China have been exported to the Philippines at a DC06EK steel price of approximately $510 per ton of CFR.
