Traders get bold on taking rebar positions in Singapore

Traders are getting bolder in taking rebar positions in the Singapore import market amid the continued rise in long steel prices in Asia, sources said.

A transaction was concluded at $517 per tonne cfr Singapore on a theoretical weight basis for Turkish rebar by a Europe-headquartered trader, a buyer source said. The quantity for the February-shipment cargo could not be confirmed.
The is in line with previous transactions heard concluded at $526-528 per tonne cfr Hong Kong on an actual weight basis for Qatar-origin cargoes.

Position cargoes were offered at $520-525 per tonne cfr Singapore on a theoretical weight basis for Turkey or Middle East-origin rebar, while back-to-back offers by Turkey were at...

Published

Paul Lim

November 30, 2020

10:55 GMT

Singapore