Import prices for rebar in Singapore edged up over the past week amid a further strengthening of the ferrous scrap market upstream.
The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $445-450 per tonne for the week to Monday December 23, narrowing upward by $5 per tonne from a week earlier."There were already some transactions last week, so buyers are not looking to purchase again," an industry source told Fastmarkets during the week. Sources confirmed that these transactions were concluded at $445-450 per tonne...