Singapore rebar prices dip on new Indian rebar transaction

Rebar import prices in Singapore have dipped amid a new transaction concluded for an Indian rebar cargo, as well as lower coking coal prices and limited demand in the spot market, sources told Fastmarkets.

There was a confirmed transaction for around 30,000 tonnes of Indian rebar at $720 per tonne cfr Singapore on a theoretical weight basis in the reported week. 
This was in line with Hong Kong import prices on an actual weight basis.
There was also a 2022-shipment rebar cargo sold at $650 per tonne cfr Singapore last week by a Chinese trader.

"This is a very good price, but Singapore is unlikely to see more transactions at these levels given the...

Published

Paul Lim

November 29, 2021

12:26 GMT

Singapore