Singapore rebar import prices unchanged amid limited spot activity

Import prices for rebar in Singapore were stable during the week to Monday June 7 amid wait-and-see sentiment among key buyers, sources said.

There was limited interest from Singaporean end users, who were still waiting to see whether the recent price rebounds in China were sustainable before committing to purchasing cargoes.
A new wave of Covid-19 infections in Singapore also made buyers hesitant to purchase imported cargoes due to the possibility of more delays in building and construction projects, as well as limited inflows of construction workers.
Major buyers said they had sufficient inventories and were not willing to purchase much material for now.

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Paul Lim

June 07, 2021

10:56 GMT