Singapore rebar import prices dip on weak demand

Singapore rebar import prices dropped over the past week on weaker demand from end users.

Buyers were staying on the sidelines, with many citing falling domestic and export prices as the key reasons for holding back.
“Given the falling prices in China, it would not be an ideal time for a buyer to secure any cargoes now,” a major fabricator in Singapore said.
Negotiation levels have dipped, with buyers reducing their bids to $545-550 per tonne cfr Singapore in the past week, down from $560 per tonne per tonne the previous week.

Major Chinese mills were offering rebar at $535-540 per tonne fob China - equivalent...


Paul Lim

July 09, 2018

11:59 GMT