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.

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