A Vietnamese mill sold around 55,000 tons of rebar to Singapore and Hong Kong last week. According to sources in Vietnam and Singapore, approximately 30,000 tonnes were sold in Singapore at $635/t cfr on theoretical weight basis and the remaining 25,000 tonnes in Hong Kong at $645/t cfr on actual weight basis.
A Singaporean trader says Vietnamese rebar is being sold at a competitive price. He points out that the Middle East and Malaysia theoretical weight rebar offers are currently priced similarly. Middle Eastern rebar is currently offered at $640/t cfr Singapore, while Malaysian rebar is offered at $645/t cfr Singapore delivered, which is equivalent to around $635/t cfr Singapore.
Last week, rebar from Malaysia was offered to Singapore at $655/t theoretical weight, while Middle East rebar was offered at $655/t cfr Singapore.
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