Southeast Asian billets and rebar prices are declining, buyers are wait-and-see waiting for market signals

Recently, due to the continuous sluggish demand, the prices of Southeast Asian billets and rebar have both declined, and most buyers have maintained a wait-and-see attitude A792 CS steel.

In terms of square billets, the current mainstream quotation for 5SP150 * 150 square billets is 540 US dollars/ton CFR Manila, a decrease of about 5-10 US dollars/ton from last week. A quote for the same specification square billet from an unrestricted origin is $538 per ton CFR Manila. However, the latest quote for 3SP150mm from a mainstream steel plant in Indonesia is $535 per ton, and the quote for CFR in Jakarta has decreased. At present, demand is still weak, and the activity of buyer inquiries is low. Most of them maintain a wait-and-see attitude, waiting for the market situation after the Chinese conference. In order to achieve higher profits, some Malaysian steel mills are focusing on the sales of slab A792 CS steel.

In terms of rebar, the current Malaysian resource quotation is at $560/ton DAP Singapore, with a shipping schedule in April, which is about $10/ton lower than last week. The current mainstream inquiry price level for rebar in Singapore is 555-560 US dollars per ton, while steel mills offer higher prices at 560-565 US dollars per ton CFR. Although the current quotation has an advantage, downstream procurement activities are relatively limited due to the relatively sufficient inventory of local buyers in Singapore. In addition, we also learned that due to the orderly implementation of government projects, local demand in Vietnam has remained stable, and some Vietnamese A792 CS steel mills involved in overseas business have started a wait-and-see mode