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Singapore import rebar prices rise on higher bids

Singapore import rebar prices rise on higher bids

SINGAPORE: Import prices for rebar in Singapore have increased following end-users’ return to the spot market after the year-end holiday season.

Metal Bulletin’s price assessment for Southeast Asian rebar imports which mainly looks at cargoes sold into Singapore on a theoretical weight basis – was $570-580 per tonne cfr for the week to Monday January 8, up $10-15 per tonne from the previous week. Bids had increased slightly after some buyers returned to the market. “Some buyers who are seeking smaller shipments are able to accept cargoes up to $570 per tonne cfr Singapore,” a trader based in Southeast Asia said. Major buyers continued to stay on the sidelines.