Singapore rebar import prices fall further on ample supply

Spot prices for rebar imports in Singapore fell further in the week to Monday August 2 on ample supply.

At least two Indian rebar cargoes were offered by traders to Singapore, including one at $735-740 per tonne cfr Singapore and another one at $740-745 per tonne cfr Singapore, both on a theoretical weight basis. The first cargo had originally been bound for Hong Kong, but was later offered to Singaporean buyers after negotiations with buyers in the Chinese territory fell through, an industry source in Southeast Asia told Fastmarkets last Friday. Middle Eastern rebar was at $760 per tonne cfr Singapore on a theoretical weight basis during the week, up by $5-10 per tonne from $750-755 per tonne cfr Singapore a week earlier. Offers for Turkish cargoes slipped below $800 per...

Published

Paul Lim

August 02, 2021

09:30 GMT

Singapore