Import prices for rebar in Singapore are likely to increase significantly in the near term following surges in steelmaking raw material prices, market sources told Fastmarkets MB.
Market participants expect major rebar producers to increase their offers to Singapore buyers on rising ferrous scrap and iron ore prices.New offers for containerized heavy melting scrap 1&2 (80:20) into Taiwan are expected to exceed $300 per tonne cfr this week. Fastmarkets MB's import price assessment of US-origin HMS 1&2 (80:20) sold into Taiwan was $270-280 per tonne cfr for the week to February...