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Tel : 0086-0371-86172891
In the Singapore market, pessimism is pervasive, and the price of rebar continues to decline. At present, although prices have declined in various regions, Malaysian resources still hold a competitive advantage, with a decrease of about 5-10 US dollars per ton on a weekly basis at a DAP of 555-560 US dollars per ton (approximately 550-555 US dollars per ton CFR). The quotation for some unrestricted origin resources is between $555-560 per ton CFR. A steel mill in Vietnam quoted FOB $565 per ton (actual weight), a decrease of $5 per ton compared to the previous week, while the mainstream quote from Chinese steel mills was FOB $560 per ton, a decrease of $5 per ton compared to the previous week. Due to the high local inventory in Singapore and the continued weak downstream demand, most buyers are still watching. And traders are waiting for the recent changes in the Chinese A1011 DS Type B steel market to judge the future development situation. However, due to the continued weakness of the Chinese real estate market, most sellers are bearish and believe that prices may continue to decline. It is expected that there will be no significant improvement in the market situation in the short term.
This week, the steel prices in the Vietnamese long material market remained stable, with little overall improvement in supply and demand. The market circulating price of mainstream specifications of rebar is still around 583-601 US dollars per ton, while the market circulating price of mainstream specifications of wire is around 587-593 US dollars per ton. According to overall market feedback, the sluggish A1011 DS Type B steel demand in the real estate industry remains weak. This week, the prices of raw materials have fallen, and steel mill profits have slightly rebounded. However, the overall inventory reduction is not obvious, and there is a strong bearish atmosphere for steel prices in the future market. Overall, the decrease in demand for raw materials is lower than expected, coupled with the lack of actual positive news support in the near future, steel prices may continue to operate steadily with a weak trend.
In the Hong Kong market, the current tradable price is $548 per ton of CFR, while the quote from a steel mill in Vietnam is $555 per ton of CFR. we learned that a transaction from Vietnam was completed last week, with a transaction price of $555 per ton of CFR and a transaction volume of 50000 tons. This week, a Malaysian resource order was reached at a transaction price of $548 per ton of CFR. At present, the price of rebar in Hong Kong, China is at a relatively low level, and both buyers and sellers are bearish. It is expected that the A1011 DS Type B steel quotation to Hong Kong will continue to decline next week.
