Turkish rebar proves most economical for Singapore

Buyers in Singapore’s spot rebar market are finding Turkish materials the most economical at the moment, sources told Fastmarkets MB.

A major steel producer in Turkey sold a 50,000-tonne cargo, which consisted of 35,000 tonnes of rebar and 15,000 tonnes of coiled debar - to Singapore last week. Fastmarkets MB’s import price assessment for rebar in Southeast Asia - which mainly looks at cargoes of the product sold into Singapore on a theoretical weight basis - was $505 per tonne cfr for the week to Monday April 15, narrowing upward from $495-505 per tonne a week earlier. “Turkish rebar is currently the most economical for Singapore buyers, because of the falling ferrous scrap prices in Turkey,” a long steel trader...

Published

Paul Lim

April 15, 2019

10:57 GMT

Singapore