Singapore's import prices for rebar fall with buyers taking chance to restock

Import prices for rebar in Singapore fell over the past week with buyers taking the opportunity to stock up on the long steel product amid a softening Chinese market.

Metal Bulletin’s assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $565-575 per tonne cfr for the week to Monday March 12, down $15 per tonne from a week earlier.
A deal involving less than 5,000 tonnes of Chinese rebar was concluded at $570 per tonne cfr Singapore.
“A stockist took the chance to replenish its stockpiles this week because prices are falling,” a trader based in Singapore said last Friday.

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Paul Lim

March 12, 2018

10:51 GMT