Singaporean rebar import price moves up
2013-08-14 08:43:14 [Print]
BEIJING (Asian Metal) 14 Aug 13 - The import price of rebar in Singapore increases at present because of the higher export offers from overseas suppliers. The price of rebar BS4449 GR500 Φ16-22mm from China is USD550-560/t CFR Singapore. Insiders predict that the price will remain firm in a short term.
A local trader in Singapore said that the latest offer for rebar BS4449 GR500 Φ16-22mm from Chinese mills is USD550/t CFR Singapore, up by USD5/t week on week.
The source said because prices of steel products in China kept moving up recently supported by the higher production cost, exporters lifted quotations. The price of iron ore 63.5%min imported from India increases to USD139-140/dt CNF China, up by almost USD10/dt compared with that of two weeks ago, and international prices of scrap and billet are also on an upward trend. Therefore, the source deemed that the import price of rebar will be firm in a short term. “I do not hold any stock of rebar in hand, but I can import materials for other buyers,” he explained, adding that buyers are placing orders cautiously now.
A steel stockist in Singapore reported that the current quotation for rebar BS4449 GR500 Φ16-22mm from Chinese mills is USD555/t CFR Singapore, USD10/t higher than that of early this month.
The source usually holds a stock of around 100,000t of all steel products, including long steels and flat steels, but now his inventory is only a little more than 80,000t. “I am replenishing the stock gradually, because I think the price will be firm or higher in the future,” he said. Meanwhile, it is said that mills in Taiwan, South Korea and Malaysia are cutting outputs by about 30%, so it will support the market price to a great extent.
A local trader in Singapore said that the latest offer for rebar BS4449 GR500 Φ16-22mm from Chinese mills is USD550/t CFR Singapore, up by USD5/t week on week.
The source said because prices of steel products in China kept moving up recently supported by the higher production cost, exporters lifted quotations. The price of iron ore 63.5%min imported from India increases to USD139-140/dt CNF China, up by almost USD10/dt compared with that of two weeks ago, and international prices of scrap and billet are also on an upward trend. Therefore, the source deemed that the import price of rebar will be firm in a short term. “I do not hold any stock of rebar in hand, but I can import materials for other buyers,” he explained, adding that buyers are placing orders cautiously now.
A steel stockist in Singapore reported that the current quotation for rebar BS4449 GR500 Φ16-22mm from Chinese mills is USD555/t CFR Singapore, USD10/t higher than that of early this month.
The source usually holds a stock of around 100,000t of all steel products, including long steels and flat steels, but now his inventory is only a little more than 80,000t. “I am replenishing the stock gradually, because I think the price will be firm or higher in the future,” he said. Meanwhile, it is said that mills in Taiwan, South Korea and Malaysia are cutting outputs by about 30%, so it will support the market price to a great extent.
