Singapore rebar import prices up after Turkey raises offers

Import prices for rebar into Singapore have increased following surges in offers by Turkish steel mills.

Turkish steelmakers have increased offers to $770-780 per tonne cfr Singapore on a theoretical weight basis, following the rapid ascent of imported ferrous scrap prices.
Middle Eastern producers in the Emirates and Qatar have also offered cargoes to Singapore at $745 per tonne cfr Singapore on a theoretical weight basis in the past week, mirroring offers to Hong Kong at $740 per tonne cfr Singapore on an actual weight basis.
Turkish steel mills have booked 10 deep-sea cargoes in the past week at increasing prices, with the highest recorded at $510 per tonne cfr.

Published

Paul Lim

October 18, 2021

09:58 GMT

Singapore