SE Asian imported rebar prices creeping upwards
Importers of rebar in Singapore have raised their booking prices to $450/tonne cfr for both Taiwanese- and Korean-origin rebar. Mills exporting to the region are now seeking a higher price of around $470/t cfr.Some trading sources claim that several thousand tonnes of Korean rebar for May/June shipment were recently booked at $465-470/t cfr Singapore. But others say that, in general, these higher prices are not being accepted because domestic prices in Singapore are prevailing at the equivalent of $480-485/t delivered, which leaves insufficient margins for importers. "Prices are creeping up but buying is not in large volumes like last year," a trader in Hong Kong says. Recent bookings of imported rebar from Taiwan and Korea took place at $440-450/t cfr Hong Kong. There are no offers for other origin rebar to the region. Turkish rebar is no longer competitive there. Traders tell SBB that the Turkish mills are aiming for an export price of around $480/t fob which would translate to $530/t cfr.
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