Prices of rebar imported from Singapore remained stable last week. The source said the stable rebar prices in the import markets of these countries were due to lower volumes. Metal Bulletin's assessment of imported rebar steel prices in Southeast Asia is at US$545-540/t, compared with rebar prices reported the previous week, which are based largely on shipments from China to Singapore. In the past few weeks, Chinese rebar offers to the Southeast Asian country have not been heard because the country is on furlough and semi-closed. The absence of the global steel market has had a major impact on prices for steel such as rebar, the sources said. Rebar prices remained unquoted on Monday, the first working day after China's long holiday. The uncertain outlook for rebar prices due to the approaching 19th National Congress of the Communist Party of China and the lack of confidence in the country's supply due to various plans by Chinese producers for rebar production has led to a decrease in domestic buyer activity, Singapore becomes China's export market. No matter how much China bids for imported rebar from Singapore, buyers seem not to show much willingness to buy rebar from the region. Sources said that the import market has a batch of 40,000-50,000 t of rebar from Turkey, which is reported to be offered at $535/t, but buyers are not very willing. At present, Singapore rebar buyers cannot accept such high-priced rebar purchases, and it is unclear how rebar prices will behave after the Chinese holiday. Meanwhile, rebar offered to Singapore at US$510-515 a ton was shipped but not accepted by buyers. The Southeast Asian market also appears to be showing a trend like that of wire rod and rebar prices.
Rebar
Steel Rebars Price
The global steel bar market size will reach $217.1 billion in 2021. Looking ahead, IMARC Group expects the market to reach $314.2 billion by 2027 at a CAGR of 6.3% from 2022-2027. The significant growth of the construction industry over the years is one of the key factors creating a positive outlook for the market. In addition, extensive infrastructure development, especially in developing countries, is fueling the market growth. Steel bars are widely used in the construction of modern skyscrapers, highways, highways, bridges, sewer tunnels, airports, and stadiums. In this regard, increasing demand for deformed steel bars is fueling the market growth. It is used as prestressed reinforcement in construction activities to minimize slippage and improve adhesion to concrete beams and columns. In addition, various product innovations, such as the development of thermomechanical technologies that help improve the quality of rebar, act as other growth-enhancing factors. This allows product manufacturers to create varieties with higher tensile strength, ductility, and corrosion resistance. Other factors, including rapid industrialization, and growing demand for products from non-residential sectors such as oil, gas, and manufacturing, are expected to further drive the market. Key market segments: IMARC Group has analyzed the key trends in each sub-segment of the global rebar market report and provided global, regional, and country-level forecasts for 2027-2022. Our report categorizes the market based on product type, process, finishing type and end use. Market competitive landscape, some of the key players are ArcelorMittal (Mittal Steel), CELSA Steel UK, Commercial Metals, Daido Steel Ltd, Gerdau SA, Hyundai Steel, Nippon Steel, Nucor Corporation, Steel Authority India, Jiangsu Shagang Group Ltd. Foolad Power and Tata Steel Co. Ltd.
Steel Rebars Price in Asia
Asian rebar prices rose as some buyers raised their price outlook and tried to follow market trends. BS500 16-20mm diameter rebar was priced at $1/t on March 31, FOB China real weight was $836/t, while BS4449 16-32mm diameter rebar was priced at $1/t to $854/t CFR Southeast Asia. In the process of evaluating Platts for nearby markets. Rebar buyers in the Singapore market raised their buying points to US$845-850 per ton cfr Singapore as some manufacturers were optimistic about the price action. Malaysian black steel rebar in the 16-25mm range is trading at $850-860/t cfr Singapore in varying quantities, according to a Singapore-based producer. The market has been buzzing about the deal, which involves the sale of Malaysian rebar to a producer at US$860 per ton CFR Singapore notional weight but has not been confirmed as of press time. Sales of China's BS500 rebar to Singapore were indexed at $870-880/t cfr, unchanged from the previous session, while sales to Hong Kong were steady at $890-900/t. "The overall rebar market prices are strong," said a producer in Singapore. He added that buyers had no choice but to follow sellers' sale signs because of the limited materials they had to choose from. The spot price of HRB400 rebar in Beijing with a diameter of 18-25mm was unchanged from the previous trading day at RMB 5,093 ($802/t) per ton by actual inventory weight (including 13% VAT). The Asian rebar market size was valued at USD 155.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. Governments in different countries focus on expanding infrastructure through development. Bridges, highways, and tunnels, are expected to provide new opportunities for rebar suppliers in the coming years.
Steel Rebars Price in China
China Settlement Price: Shanghai Futures Exchange: Rebar: Third month data reported at RMB 4,097,000/ton for August 03, 2022. This is an increase from the previous RMB 4,064,000/ton on August 2, 2022. China Settlement Price: Shanghai Futures: Stainless Steel Bar: 3rd month data is updated daily with an average of RMB 3,773,000/ton from March 2009 to August 3, 2022, with 3,248 observations. The data reached a record high of 5,972,000 yuan per ton on May 12, 2021, and a record high of 1,574,000 yuan per ton on December 4, 2015. China Settlement Price: Shanghai Futures Exchange: Rebar: Data for the third month is active in CEIC and reported by Shanghai Futures Exchange. Data in the daily database is categorized under Commodity and Futures Prices - Table CN.PG: Metals Futures Prices: Daily. In late June this year (June 21-30), the average price of 16-25mm HRB 400 rebar in China fell by 299.4 yuan/ton ($44.7/ton), or 6.6%, to 4,204.2 yuan/ton ($627 in tons) arrived. With mid-June prices (June 11-20) released by China's National Bureau of Statistics on July 4.
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