Stable demand, higher scrap prices boost Singapore rebar import prices

Stable demand from steel fabricators and stockists, and higher raw material ferrous scrap prices boosted Singapore's rebar import market during the week to Monday May 10, market sources said.

One transaction was heard concluded at $715 per tonne cfr Singapore on a theoretical weight basis for an Indian rebar cargo, and another transaction was heard at $730 per tonne cfr Singapore on a theoretical weight basis for a Turkish rebar cargo.
Offers for Turkish cargoes were at $730 per tonne cfr Singapore early in the week, before increasing to $740-750 per tonne cfr Singapore by the end of last week.
Position cargoes of Indian rebar were offered at $720 per tonne cfr Singapore, including material from a major blast furnace-based Indian steel mill.

While many...

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