Costlier scrap pushes up rebar offers in Singapore

Rebar suppliers raised their offers to Singapore in the week to Monday November 23 amid surging prices for steelmaking raw materials, market sources told Fastmarkets.

Sellers offered back-to-back cargoes of Turkish rebar to $520-530 per tonne cfr Singapore and similar shipments of Chinese product at $560-570 per tonne cfr Singapore during the week, both on a theoretical weight basis.
Offers were at $490-500 per tonne cfr Singapore and $565 per tonne cfr respectively a week earlier.
The increases came amid higher prices for raw materials in Turkey and Asia.

For instance, prices for United States-origin bulk cargoes of heavy melting scrap 1&2 (80:20) in Turkey were at $338.25 per tonne cfr on Friday November 20, about $55 per tonne higher compared with $283 per tonne cfr on...


Paul Lim

November 23, 2020

09:10 GMT