Singapore rebar import market at standstill on scrap weakness

Rebar importers in Singapore have mostly stayed put over the past week amid uncertainty over ferrous scrap prices in Asia and weakness in China’s domestic market for billet and long steel products.

The slowdown happened just as a growing number of market participants were expecting higher transaction prices to be achieved because of persisting costlier offers.

Metal Bulletin’s price assessment for rebar imports in Southeast Asia – which mainly looks at Chinese cargoes sold into Singapore on a theoretical weight basis – was $445-455 per tonne cfr for the week ending...

Published

Juan Weik

March 23, 2017

11:25 GMT

Singapore