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, stating that high inventory levels and...