Import prices for rebar in Singapore were unchanged during the week to Monday November 15 amid thin spot negotiations in the market for January or February shipment material.
Offers for rebar cargoes from the Middle East were at $740-745 per tonne cfr Singapore on a theoretical weight basis.
Turkish steelmakers were heard to have increased their offers to $740-750 per tonne fob on an actual weight basis, causing Singaporean buyers to shy away.
"Buying appetite is lower this week, especially after Singaporean buyers purchased local material from a stockist, as well as futures-hedged cargoes from China recently," a Singaporean trader told Fastmarkets on Friday.
Up to 100,000 tonnes of futures-hedged cargoes were...