The instability of billet prices and the marked decrease in scrap supply created sufficient conditions for the indicators for long products to decline.
In Southeast Asian ports, rebar has lost at least 15-20 USD/TW over the past two weeks, gradually falling to 565-576 USD/TW CIF. At the same time, individual offers for the Singapore market came out below 560 USD / TW CIF, according to information from traders.
The demand stagnation in the summer season is likely to lead to multiple reductions in supply, so some market experts are predicting at least another 20-30 USD/TW in indications.
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