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Singapore rebar import prices drop again on poor demand

Singapore rebar import prices drop again on poor demand

 

SINGAPORE: Import prices for rebar in Singapore continued to fall amid poor end-user demand in the country. Metal Bulletin’s price assessment for Southeast Asian rebar imports – which mainly looks at Chinese cargoes sold into Singapore on a theoretical weight basis – was $510-530 per tonne cfr for the week to Monday November 13, down $5-15 from $525-535 per tonne cfr a week earlier. Market sources said that a spot deal involving an India-origin position cargo was concluded close to $510 per tonne cfr. Mill cargoes were offered at $505 per tonne fob China, or about $525-530 per tonne cfr Singapore.