Rebar import prices in Singapore fell during the week. The drop in freight prices was not enough to stimulate demand.
Middle Eastern rebar was offered to Singapore last week at $740-745 per tonne CFR by weight, about $20 per tonne from a week ago.
A Singaporean stockist told Fastmarkets last Friday, "There has been some reduction in freight costs, so offers have come down slightly. Middle Eastern rebar remains the best choice for buyers.
Turkish rebar offered at $760-780 per cfr depending on the buyer and quantity. It seems that Turkish sellers will not easily give discounts," he said.
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