During the given week, prices for imported rebar have moved down in Southeast Asia, while demand has increased with more negotiations being held.
Buyers in Hong Kong have been in negotiations for Turkish rebar with the offer level at $475-480/mt CFR on actual weight basis, down by around $5/mt on the lower end over the past week. Ex-Russia rebar has been traded at $470/mt CFR Hong Kong for December shipment. If scrap prices in Turkey continue to go down, Turkish sellers will likely provide additional discounts, according to sources.
The tradable value for imported rebar in Singapore has lost $5/mt to $460-465/mt CFR on theoretical weight basis.