Import prices for rebar in Singapore picked up some strength over the past week, Qatar and India are poised to start offering rebar to Singapore again after Turkey raised its offers to the island nation.
The weekly Fastmarkets MB import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $490-500 per tonne cfr for the week to Monday May 27, widening upward by $10 per tonne from a week earlier."Steel mills in [Qatar and India] will likely offer rebar to Singapore soon to take full advantage of the increasing price levels," a long steel trader in Asia said last Friday.Over the past week, Turkey offered rebar at $500 per tonne cfr Singapore on a theoretical weight basis - compared with $490 per tonne cfr previously...