Import prices for rebar in Singapore decreased over the past week with sellers lowering their offers on weakening market fundamentals.
Major Chinese mills had decreased their offers to $555-565 per tonne cfr Singapore from $575-580 per tonne cfr Singapore a week earlier.Turkish mill cargoes were being offered at $555 per tonne cfr Singapore. These offers were also heard in Hong Kong.Forward cargoes for materials scheduled for loading in December and January were offered at $520 per tonne cfr Singapore. These were not taken into account for Metal Bulletin's price assessment because they are not within the assessed period.Bids from end-users were...