Singapore rebar import prices dip on selling pressure, lower iron ore prices

Spot prices for steel rebar imports into Singapore dipped in the week to Monday August 23 amid pressure on traders to offload cargoes after iron ore prices collapsed last week.

Traders were offering Indian rebar at $735-740 per tonne cfr Singapore on a theoretical weight basis, down by $5 per tonne from the previous week.
"The Hong Kong import market has also been receiving offers at these levels," a trader in East Asia told Fastmarkets on Monday.

Turkish steel mills were not actively offering in the spot market, while an Omani steel mill was sounding traders out for buying interest. It did not have any interest to sell any material...

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