The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $440-450 per tonne for the week to Monday September 16, down $20 per tonne from a week earlier.
Some 30,000 tonnes of Turkish rebar were sold to Singapore on either Monday or Tuesday last week at $450 per tonne cfr. These involved at least two buyers, according to sources.
“The fob price is about $410-415 per tonne fob, based on freight rates of about $40 per tonne,” a trader in Singapore said last Friday.
But by Friday, offers for...