Demand for imported rebar in Singapore thinned in the past week amid the emergence of higher offers, industry sources told Fastmarkets on Monday December 28.
Offers for back-to-back cargoes from steel mills in eastern and northern China were made at $660-670 per tonne cfr Singapore on a theoretical weight basis during the week, while position cargoes from the same sources were at $630 per tonne cfr Singapore."There are more offers from steel mills in northern China because of the cold weather there. Construction activity in the region has stopped, so they have to export. This is different from eastern China, where the weather isn't that cold," an...