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Singaporean rebar import price hard to increase

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Publish time: 25th March, 2013      Source: ChinaCCM
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Reportedly, the import price of rebar in Singapore is barely possible to increase due to the unfavorable global economy and falling raw material prices although the local demand on steel products is quite well.

Current price of rebar BS4449 GR460 or GR500 with OD16-22mm from China is US$570-590/ton, while Turkey offers at US$620-640/ton, both CFR Singapore.

According to a steel stockiest in the country that Turkish material is now too high to be acceptable in the market therefore orders go to the Chinese exporters, added that though he cut his regular stock level of all steel products from last year of 100,000 tons to 90,000 tons this year as he sees current market in Singapore is not bad. However he does not believe the import price of rebar will increase in a short term on current market situation.