Steady demand for steel billet supports Singapore rebar import prices

Firm demand for upstream steel billet in the week to Monday September 20 has been supporting rebar import prices into Singapore over the past seven days, market sources told Fastmarkets.

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...

Published

Paul Lim

September 20, 2021

08:51 GMT

Singapore