Singapore rebar import prices rise due to declining spot supply, higher offers

Spot prices for rebar imports in Singapore increased in the week to Friday August 6 on decreasing spot supply and higher offers.

A major Indian steel mill offered rebar at $750 per tonne cfr Singapore on a theoretical-weight basis, while a second Indian steel mill offered rebar at $775 per tonne cfr Singapore on a theoretical-weight basis.
"The first steel mill is not able to guarantee some aspects of the specifications of its cargo, so there could be some hesitancy among buyers to buy it," a steel fabricator source in Singapore told Fastmarkets.

Some Singaporean buyers said anyone who was looking to purchase material in the past week would have to purchase at higher...

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