Long Steel Import Prices in Southeast Asia Continue To Remain Stable

1.Singapore rebar import prices continue to remain stable

On October 23, Singapore’s rebar import price was assessed at US$535-540/ton (CFR), which remained unchanged on a week-on-week basis.

According to Singapore market news, the mainstream export quotation of Chinese rebar to Singapore at the beginning of this week was 540-545 US dollars/ton (CFR). The current freight rate from China to Singapore is about 15 US dollars/ton; at the beginning of this week, a mainstream Malaysian steel mill sent rebar to Singapore. It stands to reason that the heavy export quotation is 540-545 US dollars/ton (CFR), including the truck freight from the port to the buyer, which is unchanged from last week’s quotation; at the beginning of the week, the export quotation of Turkish rebar to Singapore was 605 US dollars/ton (CFR). ); In addition, at the beginning of the week, there was also an export quotation of Chinese rebar to Hong Kong based on actual weight of US$540/ton (CFR). Some Singaporean traders said that there were not many actual transactions in Singapore’s imported rebar market in the past week. Currently, most buyers are still purchasing on demand. The downward trend in Chinese rebar futures prices last week also increased the wait-and-see mood of buyers.

2.Southeast Asian wire rod import prices continue to remain stable

On October 23, the estimated import price of wire rod (low carbon) in Southeast Asia was US$515-540/ton (CFR), which remained unchanged on a week-on-week basis.

According to Southeast Asian market news, the actual transactions in the imported wire rod market in Southeast Asia have been relatively light in the past week. At the beginning of the week, the mainstream tax-included export quotation of Chinese wire rod to Southeast Asia was 540-550 US dollars/ton (CFR), which remained stable compared with last week’s quotation; at the beginning of the week The export price of Chinese wire rods to the Philippines is 515-520 US dollars/ton (CFR, Manila) excluding tax. A buyer from the Philippines purchased a batch of 1,000 tons of Chinese wire rods, and the transaction price was 518 US dollars/ton (CFR, Manila) excluding tax.