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 $545-550 per tonne cfr for the week to Monday August 13, down from $550 per tonne cfr a week earlier
Market sources said the weakening lira had caused dollar-denominated export cargoes to be offered at lower levels.
Traders said trades involving Turkish rebar were being negotiated at $545-550 per tonne cfr Singapore, down from $550 per tonne cfr a week earlier.
There was market chatter that a large cargo of Turkish materials had been sold into Singapore within the assessed range. But details of the transaction could not be confirmed at the time of writing.
End-users said they were looking to buy imports at $545-550 per tonne cfr Singapore, and were offered products from Qatar and Turkey.
“The best offers are at $555 per...