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...

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