Singapore rebar import prices widen downward on return of Indian material

Spot rebar import prices in Singapore widened downward during the week to Monday July 26 on the return of Indian material in the spot market, sources told Fastmarkets.

An Indian rebar cargo was offered by a trader at $740-745 per tonne cfr Singapore, although this was not met by any interest from Singaporean buyers.
There were also offers for Middle Eastern rebar at $750-755 per tonne cfr Singapore on a theoretical weight basis.
There were offers for Turkish cargoes at $800-810 per tonne cfr Singapore on a theoretical weight basis, based on export offers at $730-735 per tonne fob Turkey.

Market sources said spot price negotiations were mainly at $740-755 per tonne cfr Singapore on a theoretical weight basis, although there was no confirmed transaction...

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