Singapore's rebar market at a standstill amid suspended construction

Singapore's rebar market has come to a complete standstill due to a suspension of all construction activity in the island nation apart from that for key infrastructure projects as a measure to contain the spread of the Covid-19 virus.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore, which mainly looks at cargoes sold into Singapore on a theoretical-weight basis, was $390-410 per tonne on Monday April 20, unchanged from a week earlier.
A major Indian steelmaker offered its rebar at $425 per tonne cfr Singapore on an actual weight basis in the past week, which is equivalent to around $410 per tonne cfr Singapore on a theoretical weight basis.

But there was scant interest from Singaporean buyers because...

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