Thin rebar import trades in Singapore due to high inventory, weak demand

No spot trading was heard for imported rebar into Singapore in the week to Monday July 27, due to high inventory levels and weak downstream demand, market sources told Fastmarkets.

“It will be at least late in the fourth quarter of this year before buyers have some demand again, because inventory levels are so high and downstream restarts are slow,” a buyer source in the country told Fastmarkets on Thursday July 23.
Turkish rebar was offered at $440-445 per tonne cfr Singapore over the past week, while a seller said he was offering Indian rebar at $475-480 per tonne cfr Singapore.

There was talk in the market that Hong Kong had bought Turkish rebar...

Published

Paul Lim

July 27, 2020

10:27 GMT

Singapore