Singapore rebar import prices rise following surge in raw materials costs

Prices for rebar imports into Singapore increased in the week to Monday August 31 due to a recent surge in raw materials prices, market sources told Fastmarkets.

Major end users in Singapore denied that there were any transactions by them for imported materials, after talk circulated the market that a trader had sold Turkish rebar to the island state at $465 per tonne cfr Singapore on a theoretical weight basis.
"It is definitely not any of the major three buyers. The other smaller buyers are also definitely not in the market," an industry source in Singapore told Fastmarkets on August 28.

Market sources in Singapore said no end user had bought the cargo, and that it was misinformation caused by the circulation of...

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