Chinese reinforcing bar has regained full competitiveness in the Singapore import market, with offers falling to levels on par with Indian and Turkish rebar.
Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was at $475 per tonne for the week to Monday August 26, down by $5 per tonne from a week earlier.Chinese rebar from at least three major mills was offered at $475 per tonne cfr Singapore. This was on par with offers for Indian rebar, previously the lowest-priced product in the Singapore market.Turkish and Qatari rebar were offered at $480-485 per tonne...