Singapore continues to buy Chinese rebar on competitive edge

Singaporean buyers continued to purchase imported rebar during the week to Monday January 18, sourcing Chinese material instead of that from the Middle East or Turkey.

A 10,000-tonne cargo from a Chinese steel mill in Shandong was heard sold at $655 per tonne cfr Singapore on a theoretical weight basis to a local steel fabricator.
Offers from traders for Chinese cargoes were at $655-665 per tonne cfr Singapore, while back-to-back cargoes were heard offered at $665-670 per tonne cfr Singapore.

“Given that Chinese prices are at around $645 per tonne fob, with freight costs of around $15-20 per tonne,...

Published

Paul Lim

January 18, 2021

11:13 GMT

Singapore