Rebar import prices in Singapore increase on limited offers but buyers abstain

Import prices for rebar in Singapore increased during the week to Monday November 1 amid limited supply, with only the Middle East offering material which was deemed the lowest by local buyers.

Middle Eastern rebar was offered at $760 per tonne cfr on a theoretical weight basis to Singapore in the past week, although there was limited demand.
"The price is still a little high and there's no point rushing to buy now while offers are high," a major Singaporean stockist told Fastmarkets on Friday.
Other local buyers said demand remained thin because of the high number of Covid-19 cases in Singapore, which continued to affect downstream construction sites and lowered their demand for fabricated steel.

There were no...

Mixed outlook for gold as it remains range bound for past three months

Gold stocks down on flat metal price

Gold stocks down on metal decline

Huge quantifiable rise in geopolitical, economic and trade risks

Platinum clearly ahead of palladium for first time in seven years