Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
This week, the quotation for imported deformed SEFC490 steel bars from Singapore has declined. It is reported that a Malaysian factory's rebar pricing is approximately $540/ton DAP (delivered by truck), equivalent to $535/ton CFR Singapore. Last week, the factory's quotation was $550/ton.
Singaporean traders believe that due to the decline in raw material prices, the current prices should be negotiable. Although Malaysia's SEFC490 steel quotation for rebar is $540/ton dap, Singapore rebar can actually be ordered at a price of $535/ton dap. So far, the price of thread steel from Vietnam has remained unchanged from last week, at $550 per ton cfr.
It is understood that due to future uncertainty, buyers are adopting a wait-and-see attitude. Compared to Malaysian rebar, the price of Chinese rebar for November shipment and December delivery is $540 per ton cfr Singapore, while Malaysian rebar has faster delivery speed, lower price, and smaller tonnage, making Chinese SEFC490 steel rebar less attractive. The actual demand of Singaporean buyers is still mainly based on a small amount of hard demand procurement. Overall, it is expected that a recovery will only occur after the Chinese New Year.
In Hong Kong, the current quotation for threaded steel from the aforementioned Malaysian factory is 540 US dollars per ton for CFR weighing. According to import sources, the quotation for Chinese original thread steel is 545 US dollars per ton cfr Hong Kong.
