Suppliers of Turkish rebar test Singapore market with lower offers

摘要

Sellers of Turkish rebar tested the Singapore market over the past week by issuing lower offers to the republic after the Lunar New Year holiday. They offered cargoes at $450-455 per tonne cfr to the Southeast Asian country. No other offers for cargoes of other origin were heard. Participants were largely just returning to the spot market during the week and were not actively looking to purchase materials yet. The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $450 per tonne for the week to Monday February 3, down by $5-15 per tonne from a week earlier.