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Singapore rebar prices fall as scrap costs ease

May 03, 2010 - 04:42 GMT Location: Singapore

KEYWORDS: Singapore , steel

Rebar prices in Singapore have fallen S$20 ($14) per tonne this week, decreasing for the first time in a month due to cheaper scrap, trading sources told MB.

Rebar was trading at S$940-960 per tonne on Monday, from S$960-980 per tonne two weeks ago. "Rebar prices have softened slightly as scrap costs had gone down too to $450 per tonne level, down from $460-480 a month ago," said an official at Natsteel, Singapore's sole producer. "Goods are still moving, but some in the market are waiting for prices to...

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