Singapore: domestic and foreign suppliers of longs raise prices

摘要

Domestic and foreign suppliers of longs to Singapore have raised their pricesagain in an attempt to reflect a jump of iron ore quotations in their offers. Yet,the price increases have affected buyer activity: customers prefer buying onlysmall lots of long products being wary that the prices will roll back. Despitedecreased demand and growing stocks, the suppliers still intend to continuelifting longs prices into the next month. As a result, prices for domestic rebarhave gained $23/t taking into account slight currency fluctuations (SGD 35/t),and wire rod prices – $12-16/t (SGD 20-25/t) compared to two weeks ago.