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25 May

Buyers stay away in falling ASEAN longs markets

Import markets in ASEAN for rebar and wire rod are sluggish amid falling Chinese steel futures and regional market bearishness, Kallanish notes. Buyers are steering clear amid the current bearish conditions. Singapore buyers are in no hurry to place orders because they are expecting arrivals of incoming rebar cargoes. "They [Singapore buyers] have enough stocks and they think that prices are coming down," a Singapore trader says. Suppliers are also …
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Anna Low  |  Singapore
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