Prices for imported rebar in Singapore surged during the week to Monday May 17 due to bullish sentiment caused by the soaring prices in China, market sources said.
Offers increased to $800 per tonne cfr Singapore on a theoretical weight basis for back-to-back cargoes from Turkey, and $790 per tonne cfr Singapore for position cargoes from India, notably from a major blast furnace-based Indian steel mill."Some of them feel that prices have risen too fast and they want to wait and see,"...