Rebar import prices in Singapore edge up amid costlier scrap

Import prices for rebar in Singapore continued to rise in the week to Monday October 25 amid a surging ferrous scrap market upstream.

Rebar from the United Arab Emirates and Qatar was offered at $760 per tonne cfr on a theoretical weight basis to Singapore in the past week.
While buyers in Hong Kong bought some 100,000 tonnes of such rebar at $760 per tonne cfr on an actual weight basis from three traders, their counterparts in Singapore were not willing to pay such high prices.

"Buyers will bid at $740 per tonne cfr Singapore on a theoretical weight basis after taking into account the theoretical-actual weight differences and freight costs," a Singaporean buyer...

Published

Paul Lim

October 25, 2021

10:30 GMT

Singapore