During the past week, ex-China and ex-ASEAN rebar offer prices have moved sideways, but some improvement is expected next week if sentiments and demand maintain a gradual rebound.
Ex-China rebar offer prices have been heard at $465-475/mt FOB, moving sideways on average compared to August 22.
During the given week, rebar futures prices have edged down, negatively affecting market sentiments. However, apparent consumption increased week on week amid the fading impact of high temperatures and slightly improved demand from downstream users, but it has not been enough to push up prices. At the same time, on August 25, five government departments in China issued the Steel Industry Growth Stabilization Work Plan for 2025-2026, stating that China will implement precise regulation of production capacity and output, exerting a positive impact on sentiments in the steel market. It is thought that rebar prices in the Chinese domestic market will edge up in the coming week, though the gains may be limited as supply is also likely to increase after the parade on September 3.
Meanwhile, the offer prices of ex-Malaysia rebar have been heard at $490/mt DAP Singapore, theoretical weight, translating to $480-485/mt on CFR basis, being more competitive than quotations from China. Offer prices of ex-China rebar stand at $485-490/mt CFR Singapore, theoretical weight, unchanged from the previous week.
In the Hong Kong market, buyers’ target price stands at $480/mt CFR, actual weight, remaining stable on average compared to August 22, while offer prices of ex-Malaysia and ex-China rebar have been heard at $490-500/mt CFR, actual weight.
Average rebar spot prices in China have decreased by RMB 17/mt ($2.4/mt) compared to August 22, standing at RMB 3,240/mt ($456/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 29, rebar futures at Shanghai Futures Exchange are standing at RMB 3,090/mt ($435/mt), decreasing by RMB 29/mt ($4.1/mt) or 0.9 percent since August 22, while down 0.83 percent compared to the previous trading day, August 28.
$1 = RMB 7.103
