Singapore's rebar import prices rise on surging markets for raw materials

Import prices for rebar in Singapore continued to rise in the week to Monday September 14 on costlier raw materials, market sources told Fastmarkets.

Higher prices for ferrous scrap and iron ore have caused sellers to raise their offers in turn. Sources said there is little chance of steel mills giving substantial discounts to buyers in Asia.
Turkish and Indian rebar was offered at $485 per tonne cfr Singapore on a theoretical weight basis during the week, although demand remained thin.

“While there are improvements in the downstream construction sector, where operating rates may have recovered to as high as 50% for...

Published

Paul Lim

September 14, 2020

08:52 GMT

Singapore