A Malaysian producer offered around $560/t cfr tonne or $550/t cfr Singapore for theoretical weight rebar by truck delivery this week. Last week's offer was around $555-560/t ex-warehouse. The mill's actual rebar offer to Hong Kong was increased by $10/t to $575/t cfr.
Importer sources said that Middle Eastern rebar is currently less competitive with offers from Singapore of at least $570/t cfr Singapore. A Singapore buyer noted that rebar prices have increased due to the rebound in Chinese futures and the firming trend in iron ore.
BS4449 500B 10-40mm rebar BS4449 500B 10-40mm diameter was up $2.5 on the week to $550/t cfr Singapore.
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