Import prices for rebar in Singapore were up over the past week due to higher offers for China-origin materials.
There were mainly only China-origin mill cargoes in the spot market, with about three Chinese mills offering export materials. This included a major Chinese mill offering rebar at $570 per tonne fob China, and two others which followed its lead.Singapore buyers said they were getting offers of about $565-580 per tonne cfr Singapore from back-to-back mill cargoes, including Turkey-origin material.A Middle East mill had floated a tender to Singapore buyers, inviting bids for July-shipment material. However, there have not been any conclusions heard yet.Bids from end-users had increased up to $550 per tonne cfr Singapore, up...