Import prices for rebar in Singapore continued on a downward trend on weak demand from domestic buyers.
Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $475-485 per tonne cfr for the week to Monday December 24, down from $480-490 per tonne cfr from a week earlier.Spot trading was extremely illiquid, with most market participants already departed the spot market for the year-end holiday season. Major buyers were not purchasing spot cargoes or were not at their work stations at all.Open-origin rebar was offered to Singapore at $475-480...