Singapore's rebar import prices soften further on ample Chinese supply

Import prices for rebar in Singapore softened further over the past week with the supply of Chinese products remaining ample.

Fastmarkets MB’s assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $500 per tonne cfr for the week to Monday December 3, down $10-20 per tonne from $510-520 per tonne cfr a week earlier. “Transactions were being negotiated around $500 per tonne cfr Singapore in the past week. Most market participants feel that this is best level for deals to be concluded,” a long steel trader in Singapore said last Friday. Traders offered back-to-back mill...

Published

Paul Lim

December 03, 2018

09:59 GMT

Singapore