Sufficient stock, limited demand halt Singapore's rebar import price uptick

The imported rebar price in Singapore was stable in the week to Monday September 21 after buyers held back on purchases due to subdued downstream demand, market sources told Fastmarkets.

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 $460-470 per tonne on Monday, unchanged week on week.
Steel fabricators in the island state did not bid for imported cargoes amid weak demand from construction companies and contractors.

Building and construction sites continue to increase their operating rates but the end users hold sufficient inventory and there...


Paul Lim

September 21, 2020

08:46 GMT