Singapore rebar import prices rebound on costlier raw materials

Prices for rebar imports into Singapore have risen following an increase in ferrous scrap prices in the week to Monday April 5.

Rebounding ferrous scrap prices in key import market Turkey have caused sentiment to improve among Turkish mills, which have been actively seeking materials to feed downstream long steel demand from Asia.
Prices have reached as high as $430 per tonne cfr Turkey for United States-origin material, and $420.64 per tonne cfr Turkey for Europe-origin material.
"This is an increase of $10-20 per tonne from the previous transactions," a scrap trader in East Asia told Fastmarkets.

Turkish steel mills have raised offers for rebar to Asia correspondingly, offering at $680-685 per tonne cfr Singapore on a theoretical weight...

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