Prices for rebar imports into Singapore continued on a downward trend in the week to Monday March 29.
Falling scrap prices and a weaker Turkish lira have caused import prices to fall continually, market sources said.
There were multiple transactions heard concluded in the past week.
Around 200,000 tonnes of Turkish rebar was heard sold to Singapore at $650-660 per tonne cfr on a theoretical weight basis, split among four vessels.
But this could not be confirmed by key buyers.
"There is not one single steel fabricator in Singapore who has so much credit on hand to purchase four cargoes at one time," a buyer source in the country said on March 26.
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