The rebar import market has been quiet this week in Singapore and Hong Kong. Suppliers are maintaining offer prices at firm levels despite the Chinese steel futures market falling in the past two days, Kallanish understands.

Theoretical-weight rebar from Malaysia is offered at $555/t delivered by truck (dap) to Singapore, up from $550-555/t dap Singapore. A Singapore trader reports hearing small tonnages of rebar booked from the Malaysian mill at $550-555/t dap, which is equivalent to around $540-545/t cfr Singapore. Suppliers are asking for high prices but buyers are expecting prices to drop back, the trader says. But others did not confirm this. “It is possible,” says a regional trader of the deals, though he did not hear of them.

A Vietnamese mill’s latest offer for theoretical-weight rebar for October shipment to the Singapore market is at $530/t fob Dung Quat. A 10,000-tonne cargo was booked at under $530/t fob early last week, a Vietnamese mill manager hears. For tonnages less than 10,000t, the freight cost would be around $20/t, a Hanoi trader notes. A full vessel of 50,000t of rebar from Oman is being offered at $545-550/t cfr Singapore.

In Hong Kong, offers for actual-weight rebar are prevailing at $560/t cfr, trading and importing sources say. “If traders took positions, they should have some cheap Middle Eastern cargoes available,” a buyer says. The above-mentioned Vietnamese mill should be able to offer at $560/t cfr too, the regional trader says.

Kallanish assessed BS4449 500B 10-40mm diameter rebar at $540-545/t cfr Singapore theoretical weight, unchanged on week.