The Asian billet and rebar markets exhibited divergent trends Aug. 13, with billet prices softening amid active short selling by traders, while rebar prices held steady, supported by robust demand.
In the export billet market, offers for Chinese 3SP 150 mm billet were reported at $450-$455/mt FOB China, down $5/mt from the previous day.
Indicative bids for 3SP 150 mm billets were heard at $460- $465/mt CFR Southeast Asia, equivalent to approximately $440- $445/mt FOB China, also down $5/mt.
In Manila, a deal concluded on Aug. 12 was reported at $483/ mt for Chinese-origin 3SP 130 mm billet CFR Manila.
“Billet offers for 5SP 150mm are generally unchanged at $480/mt CFR Manila. However, there are low offers at $473/mt CFR Manila for the same specification.
It appears that traders are attempting to create business opportunities through short
selling, while mills are quoting firm prices at higher levels,” a local mill source said.
Platts assessed Chinese export 3SP 150 mm billet down $2/mt day over day at $449/mt FOB China.
Platts assessed 5SP 150 mm billet down $2/mt day over day at $472/mt CFR Southeast Asia.
Billet offers from an Indonesia-based mill reportedly remained stable at $458/mt FOB Indonesia, with the latest shipment date revised from October to on or before November. According to a source from the mill, this amendment was made following recent billet sales to Vietnam.
The rebar export market demonstrated stability, with Chinese origin B500B-grade rebar offers reported around $500/mt CFR Hong Kong for October shipment, remaining stable day over day.
In Singapore, Malaysian-origin rebar tradable values from the seller’s perspective were reported at $490-$495/mt CFR Singapore.
Chinese-origin offers were heard at $495/mt CFR Singapore, while Malaysian-origin offers were reported at $500/mt CPT Singapore.
A local trader source noted that demand remained robust. “Though purchasing and stock replenishment activities have mostly been completed, downstream buyers now are chasing deliveries for previously booked goods,” the trader said.
Platts assessed the 16-32 mm BS4449-grade 500 rebar stable day over day at $489/mt CFR Southeast Asia.
Platts assessed the Chinese export 16-40 mm diameter BS500B-grade rebar stable day over day at $484/mt FOB China.
Prices in the Chinese domestic market remained stable, supported by a decline in rebar inventories after four consecutive weeks of increases.
While electric arc furnace (EAF) mills are reducing production due to losses, several blast furnace mills that had previously undergone maintenance are gradually resuming operations, which has led to an increase in overall output, according to two East China-based traders. Therefore, the decrease in inventories is considered a very positive signal for the market.
In Tangshan, the tradable value for Q235 billet was reported stable day over day at Yuan 3,000/mt.
Similarly, in the Beijing rebar market, the tradable value for HRB400 18-25 mm rebar was also reported stable at Yuan 2,990/mt.
Platts assessed Chinese domestic Q235 billet stable on day at Yuan 3,000/mt on a Tangshan ex-stock basis.
Platts assessed the domestic Beijing HRB400 18-25 mm rebar spot price stable day on day at Yuan 2,990/mt ex-stock in theoretical weight.
