During the past week, ex-China rebar offer prices have remained stable, though the resent improvement in the mood in China may support rebar prices in Asia in the near future after some previous declines from ASEAN sellers.
Ex-China rebar offer prices have been heard at $470-480/mt FOB, for May shipment, moving sideways on average compared to March 7.
The average rebar prices in the Chinese domestic market have seen slight declines compared to the previous week, though rising for the past three consecutive days amid the continuous rises in rebar futures prices. China’s National Development and Reform Commission has announced the implementation of crude steel production controls in 2025, and that it aims to promote the reduction and reorganization of the steel industry, exerting a positive impact on market sentiments. Meanwhile, China's infrastructure construction activity has begun to recover, which will boost the demand for steel and bolster prices. It is expected that rebar prices in the Chinese domestic market will edge up in the coming week.
In the Singapore market, the offer prices of ex-Malaysia rebar have been heard at $475-480/mt DAP, theoretical weight, down $10/mt week on week. This translates to $470/mt on CFR basis, while offer prices of ex-China rebar have been heard at $490/mt CFR, theoretical weight.
In the Hong Kong market, the tradable level has remained stable at $485/mt CFR, actual weight, moving sideways week on week.
Average rebar spot prices in China have lost RMB 10/mt ($1.4/mt) compared to March 7, standing at RMB 3,367/mt ($470/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 14, rebar futures at Shanghai Futures Exchange are standing at RMB 3,267/mt ($456/mt), increasing by RMB 15/mt ($2.1/mt) or 2.3 percent since March 7, while up 0.77 percent compared to the previous trading day, March 13.
$1 = RMB 7.1738