Rebar offers came in from Turkey at $735 per tonne cfr Singapore, while Indian and Middle Eastern steel mills were not actively looking to sell rebar to Singapore.
“They can easily sell billet to China at almost $720 per tonne cfr, why would they want to sell rebar at the same price,” a buyer source at a Singaporean steel fabricator told Fastmarkets
on Friday September 17.
A 15,000-tonne distressed cargo continued to sit off the Port of Singapore with no buyer looking to pick up the materials. It was not immediately clear whether there were any...