Singapore's rebar buyers expect Turkish offers to rise

Import prices for rebar in Singapore held steady over the past week, though expectations have emerged over the possibility of Turkish offers rising soon amid costlier steelmaking raw materials in the Middle Eastern country.

“Turkish steel mills will likely refresh their offers for rebar to Singapore soon at higher levels,” a long steel trader in Singapore said. Demand for Turkish rebar, which was offered at $505-510 per tonne cfr Singapore on a theoretical-weight basis, remained steady over the past week among buyers in the city-state. “But anyone who wants to confirm a Turkish cargo will have to buy at least 50,000 tonnes in a single shipment,” a trader source...

Published

Paul Lim

April 22, 2019

10:45 GMT

Singapore