Singapore rebar import prices stable as buyers resist higher offers

Singapore rebar import prices were stable this week, with buyers resisting higher offers in the spot market.

News of production cuts in key Chinese steelmaking region of Tangshan put some buyers on edge, with some wondering whether to purchase spot cargoes. But they did not increase their bids and kept their buying prices unchanged from the previous week at $545-550 per tonne cfr Singapore.

This was because they did not feel that prices in China would continue on a strong upward trend and would lose strength after the recent uptick caused by news...

Published

Paul Lim

July 16, 2018

15:11 GMT

Singapore