Increasing risk of Covid-19 infections keeps Singapore rebar buyers away

The increasing risk of Covid-19 infections in Singapore has kept rebar buyers from the island state away from the import markets, according to market participants.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore, which mainly looks at cargoes sold into Singapore on a theoretical-weight basis, was $430 per tonne on Monday March 30, down by $5-10 per tonne from $435-440 per tonne a week earlier.
There were negotiations at $430 per tonne cfr Singapore for Turkish rebar, although it was not clear whether there was a transaction concluded at the time of publication.

“There is a high chance that the number of Covid-19 infections in Singapore may continue to increase, so there is a sense among market participants that they may see restricted movement of construction...

Published

Paul Lim

March 30, 2020

08:30 GMT

Singapore