Import Prices Of Long Steel in Southeast Asia Fell

Singapore rebar import prices continued to fall by $10-15/mt.

On April 24, the assessment price of Singapore rebar imports was 600-615 USD / ton (CFR), down 10-15 USD / ton week-on-week.

According to Singapore market news, the Singapore import rebar market continued to be light in the past week. At the beginning of this week, the mainstream export price of rebar from other Southeast Asian countries to Singapore was 615-620 USD / ton (CFR), and Singapore buyers were bidding below 600 USD / ton (CFR) for imported rebar. A Singaporean trader said that buyers continue to be mostly bearish on imported rebar prices, mainly wait-and-see, and the significant decline in China’s domestic rebar prices last week has exacerbated the bearish mentality of buyers, while the trader expects a certain rebound in prices in mid-May.

Note: USD 600-615 = RMB 4140-4244 (based on the exchange rate of RMB to USD on April 25)

Southeast Asian wire rod import prices continued to fall by $20/ton

On April 24, the assessment price of Southeast Asian wire rod (low-carbon) imports was $560/ton (CFR), down $20/ton week-on-week.

According to Southeast Asian market news, the overall import wire market in Southeast Asia last week was relatively light, and the quotations of suppliers were not much. At the beginning of this week, the mainstream export quotation of Chinese wire rod to the Philippines was 560-585 USD / ton (CFR), and Chinese wire rod is the main source of imported wire rod in Southeast Asia. Some market participants said that at present, the psychological price of imported wire rod by buyers in Southeast Asia is mostly 560 USD / ton (CFR).

Note: USD 560 = RMB 3,864 (based on the exchange rate of RMB to USD on April 25)