Singaporean rebar import market inactive
2015-10-23 08:47:21 [Print]
BEIJING (Asian Metal) 23 Oct 15 - Rebar importers in Singapore are not active in placing orders with suppliers even though the import price of rebar is on a downward trend at this moment. The current price of rebar BS4449 GR460 12mm is USD255-260/t CFR Singapore, down by USD25/t compared with that of a month ago. Importers prefer to watch the market cautiously in the short term.
An importer in local market states that the latest offer from China he received for rebar BS4449 GR460 12mm is USD260/t CFR Singapore, down by USD25/t compared with that of a month ago. However, he has no intention to place orders at this price.
The source reveals that the year-on-year growth for economy in Singapore in Q3 of this year is 1.4%, lower than that of 2.0% in Q2. In addition, the year-on-year growth for construction industry is 1.6% in Q3, lower than that of 2.0% in Q2 of this year. According to the source, the demand from his customers continued to shrank in past several months. His regular import volume of rebar was around 4,000 tons per month at the beginning of this year, while it is around 5,000 tons every two months.
Another importer in local market reports that he receives an offer of USD255/t CFR Singapore for rebar BS4449 GR460 12mm from China, down by USD25/t compared with that of a month ago. However, he has no intention to place orders at this price.
According to the source, he placed a large order of 10,000 tons at a price of USD310/t CFR Singapore in the end of June and new materials arrived at port in the end of September. “Prices went down by around 18% in past four months,” he says, adding that he is very cautious about placing orders at present as prices are still falling down. In his opinion, the competition between exporters will be fiercer when it is colder and colder as the demand from Chinese domestic market will shrink in the near future. As the demand from his customers is not strong at the moment, the source prefers to wait for a lower quotation.
An importer in local market states that the latest offer from China he received for rebar BS4449 GR460 12mm is USD260/t CFR Singapore, down by USD25/t compared with that of a month ago. However, he has no intention to place orders at this price.
The source reveals that the year-on-year growth for economy in Singapore in Q3 of this year is 1.4%, lower than that of 2.0% in Q2. In addition, the year-on-year growth for construction industry is 1.6% in Q3, lower than that of 2.0% in Q2 of this year. According to the source, the demand from his customers continued to shrank in past several months. His regular import volume of rebar was around 4,000 tons per month at the beginning of this year, while it is around 5,000 tons every two months.
Another importer in local market reports that he receives an offer of USD255/t CFR Singapore for rebar BS4449 GR460 12mm from China, down by USD25/t compared with that of a month ago. However, he has no intention to place orders at this price.
According to the source, he placed a large order of 10,000 tons at a price of USD310/t CFR Singapore in the end of June and new materials arrived at port in the end of September. “Prices went down by around 18% in past four months,” he says, adding that he is very cautious about placing orders at present as prices are still falling down. In his opinion, the competition between exporters will be fiercer when it is colder and colder as the demand from Chinese domestic market will shrink in the near future. As the demand from his customers is not strong at the moment, the source prefers to wait for a lower quotation.
