Import prices for rebar in Singapore were lower over the past week on expectations of more supply hitting the market in the coming weeks.
This is especially so for Chinese rebar, which is widely expected by market participants to be offered in more amounts in the near term as the domestic market softens.Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $520-530 per tonne cfr for the week to Monday November 19, lower by $5-10 per tonne from a week earlier.Mills in Turkey offered rebar at $530-540 per tonne cfr Singapore in the past week, down from $540-545 per tonne cfr Singapore in the previous week.Qatari...