Singapore's import prices for rebar fall further on weak demand

Import prices for rebar in Singapore softened over the past week after traders and sellers lowered their offers for Chinese products in response to tepid demand from domestic buyers.

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 $565-570 per tonne cfr for the week to Monday March 19, narrowing downward by $5 per tonne from a week earlier.
Market sources said negotiations were being done at the assessed range and that there could be a transaction concluded close to $567 per tonne cfr, although this could not be confirmed.
Position cargoes of Chinese rebar were head offered at $570-580 per tonne cfr on a theoretical weight basis.

Mill cargoes were mostly offered at $560-570 per tonne fob China on a theoretical weight basis,...

Published

Paul Lim

March 19, 2018

09:40 GMT

Singapore