Rebar import prices in Singapore dipped in the week to Monday October 4 amid weak raw materials prices in key exporter Turkey, market sources told Fastmarkets.
There were a number of offers for Turkish rebar in the Singaporean spot market.
A major Singaporean buyer was offered 50,000 tonnes of Turkish rebar at $720-725 per tonne cfr Singapore on a theoretical weight basis, while other buyers and traders received offers at $735-745 per tonne cfr Singapore on a theoretical weight basis.
"Anyone interested in purchasing large quantities of rebar from Turkey should be able to secure materials at $720-725 per tonne cfr Singapore," the major buyer told Fastmarkets.
Some market sources said such a low offer was based on position...