Singapore rebar importers turn to Turkey again on China’s absence

Rebar buyers in Singapore have finalised low-priced deals with Turkish suppliers over the past week amid China’s absence from the market due to the lunar new year holiday, Metal Bulletin has learnt.

Bookings in the Southeast Asian city-state, totalling tens of thousands of tonnes of rebar, have been heard in the past few days at prices around $420-425 per tonne cfr on a theoretical weight basis. Shipments are scheduled from Turkey for late February and early March.
Such prices are $15-20 per tonne lower than the previous deals on the island, which closed at $435-440 per tonne cfr two weeks ago from China.

“It seems that...

Published

Juan Weik

February 02, 2017

15:12 GMT

Singapore