Singapore rebar import market keeps momentum on recent scrap price surges

The price for rebar imported into Singapore continued to rise this week due to the recent increases in raw material ferrous scrap prices.

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 $685-690 per tonne cfr on Monday April 19, up by $8-10 per tonne from $677-680 per tonne cfr Singapore a week earlier.
Turkish steel mills were offering rebar at increasingly higher prices throughout the past week. Offers for Turkish rebar were heard at $685 per tonne cfr Singapore on a theoretical weight basis in the earlier part of the week, before offers increased to $590 per tonne cfr Singapore by Thursday.

The last offers heard were at $695 per tonne cfr Singapore...

Published

Paul Lim

April 19, 2021

11:56 GMT

Singapore