Import prices for rebar in Singapore were up slightly over the past week on continued spot demand in the market.
There continued to be some demand, with major fabricators in the spot market enquiring about spot cargoes."Singapore buyers continue to bid at $540-550 per tonne cfr Singapore. However, they are not expected to budge at anything above this price this week," an industry source in Singapore said.Buyers were resisting what they saw as overly high offers from mills, citing the Ramadan holiday and the ongoing rainy season as dampening spot demand from the downstream building and construction industries.Major Chinese mills continued to keep their rebar offers at $550 per tonne fob, which is equivalent to...