Import prices for rebar in Singapore dipped in the past week with buyers staying away from the spot market on expectations of further decreases due to a weakening of the raw materials sector upstream.
The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $480-485 per tonne for the week to Tuesday August 13, down $5 per tonne from a week earlier.Traders were offering Indian and Turkish at $480-485 per tonne cfr Singapore during the week. Major Turkish mills on the other hand were offering their products at $450-455 per tonne fob. Market sources...