During the given week, ex-China rebar offer prices have edged up compared to the previous week, supporting offers from ASEAN-based mills, but in general trading in Asia’s import rebar market has remained limited.
Ex-China rebar offer prices have been heard at $470-490/mt FOB, January shipment, increasing by $5/mt on average compared to December 6. During the given week, market sentiments have improved due to China’s announcement of a “moderately loose” monetary policy for 2025, changing its monetary policy stance for the first time since 2011. Rebar futures prices have moved up amid the improved sentiments, exerting a positive impact on prices in the spot market. However, the demand for rebar has slackened due to the traditional offseason. It is expected that rebar prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week, according to market sources.
In the Singapore market, the offer prices of ex-Malaysia rebar have been heard equivalent to $495/mt CFR, theoretical weight, up from $485-490/mt CFR last week, while offer prices of ex-China rebar have been heard at as high as $520/mt CFR, theoretical weight.
In the Hong Kong market, the tradable level for import rebar has moved up to $510/mt CFR, actual weight, versus $495-400/mt CFR, though no new deals have been reported so far.
Average rebar spot prices in China have risen by RMB 53/mt ($7.4/mt) compared to December 6, standing at RMB 3,480/mt ($484/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 13, rebar futures at Shanghai Futures Exchange are standing at RMB 3,360/mt ($467/mt), increasing by RMB 49/mt ($6.8/mt) or 1.5 percent since December 6, while down 1.73 percent compared to the previous trading day, December 12.
$1 = RMB 7.1876
