Singapore rebar import prices stable despite increase in Turkish offers

Singapore’s rebar import prices were stable this week amid the surging number of Covid-19 cases in the country, causing buyers to pause purchasing to take stock of their downstream demand.

Turkish steelmakers increased their offers sharply for rebar exports, taking into account higher scrap prices.
Key buyers received offers at $745-750 per tonne cfr Singapore on a theoretical weight basis, after taking into account freight costs of $75-80 per tonne.
Spot demand remained thin, with buyers content to wait and see amid the worsening Covid-19 situation in Singapore.

“If Singapore didn’t have the worsening Covid-19 situation, then yes, buyers would need to buy at $740...


Paul Lim

October 11, 2021

08:50 GMT