Import prices for rebar in Singapore picked up some strength over the past week on steady buying among end-users.
A position cargo of Chinese materials was heard to have been traded at $560 per tonne cfr Singapore. There was also market chatter about traders securing Middle East-origin rebar around $560-565 per tonne cfr Singapore via tender, with about 15,000-20,000 tonnes of the product to be offloaded between Hong Kong and Singapore.Major Chinese mills raised their offers to $575-580 per tonne cfr Singapore over the past week from $570-575 per tonne cfr Singapore a week earlier. Turkish...