Monsoon forces Indian rebar producer to look toward Singapore

The onset of the monsoon season in India has forced a major steelmaker to offload rebar to Singapore at prices below those offered by competitors from Turkey.

The weekly Fastmarkets MB import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $486-487 per tonne cfr for the week to Monday June 10, down $9-13 per tonne from $495-500 per tonne cfr a week earlier. The Indian steelmaker has sold rebar for shipment in either July or August to Singapore at $486-487 per tonne cfr on a theoretical weight basis, market sources said. The quantity and buyer involved could not be confirmed at...

Published

Paul Lim

June 10, 2019

11:00 GMT

Singapore