Singapore rebar import prices weakened over the past week following the issuance of low offers from a Turkish mill.
Metal Bulletin's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $550 per tonne cfr for the week to Monday August 6, down $3-5 per tonne from the preceding week's $553-555 per tonne cfr."There is some interest in import cargoes this week because Turkish rebar is being offered at very competitive levels," a Singapore trader said last Friday.Bids were made at $550 per tonne cfr Singapore, with most end-users expecting to be able to secure Turkish rebar at that price."With Turkish ferrous scrap...