Rebar prices in Singapore continue to slide on ample supply, weak demand

Import prices for rebar in Singapore continued to trend downward in the week to Monday September 6 amid ample spot supply and weak demand among buyers.

A trader offered a position cargo of Indian rebar at $720 per tonne cfr Singapore on a theoretical weight basis during the week.
Turkish rebar was offered at $720-725 per tonne cfr Singapore on a theoretical weight basis following a recent drop in scrap prices in Turkey. This is equivalent to around $665-670 per tonne fob Turkey on an actual weight basis.
No rebar of other origin was offered to Singapore during the week.

Buyers in Singapore said demand in the island nation remained "very weak" due to a slowdown in construction activity...

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