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Tel : 0086-0371-86172891
We has learned that the supply and demand fundamentals of the Singapore long material market have remained stable recently, with actual imported thread prices remaining unchanged on a weekly basis, currently around A1008 DS Type A steel $535-540 per ton of CFR.
At present, a Malaysian steel plant is quoting 540 US dollars per ton of CFR, calculated. A Vietnamese A1008 DS Type A steel mill quoted $545 per ton of CFR, a decrease of $5 per ton compared to the previous week. At present, although there is still some downstream demand in Singapore, the overall demand is relatively sluggish.
I haven't heard any quotes from steel mills in China and the Middle East recently. A Singaporean trader has stated that if China quotes below $550/ton FOB, it may decrease by $5/ton compared to the previous week. However, the quote of $550/ton FOB is also far from the expected price of the importer.
In terms of wire rods, the wire rods with Chinese steel specifications of 6,5mm are priced at 525-535 USD/ton CFR to Singapore 1008 DS Type A steel, which has decreased compared to before. Mysteel also learned that there are still some low-priced advantageous resources being exported to Singapore. At present, a mainstream steel mill in Indonesia offers wire rods at a price of 525 USD/ton FOB, which is approximately 550 USD/ton CFR.
