Asian rebar prices extended an uptrend Oct. 26 as offers continued to move higher, with the CFR Southeast Asia price touching a 14-month high.

S&P Global Platts assessed 16-20 mm diameter BS500 rebar at $476/mt FOB China actual weight, up $1/mt from the previous session, and 16-32 mm diameter BS4449 Grade 500 rebar at $472/mt CFR Southeast Asia, up $2/mt over the same period.

In Singapore, a Middle East-Omani rebar offer emerged Oct. 26 at $495/mt CFR Singapore theoretical weight for December shipment, sources said.

Turkish rebar was offered at $480/mt CFR Singapore theoretical weight for January-February 2021 shipment, up $5/mt from Oct. 23, a fabricator in Singapore said, adding that the offer for Chinese cargoes was $515/mt CFR for December-January shipment.

The operating rate for mills and construction sites in China was around 90%, local sources said. However, buying indications remained at $460-$465/mt CFR Singapore theoretical weight, according to a buyer.

Beijing spot 18-25 mm diameter HRB400 rebar was assessed at Yuan 3,785/mt ($567/mt) ex-stock actual weight including 13% value added tax in the Beijing retail market Oct. 26, unchanged from the previous session.

The most actively traded January 2021 rebar futures contract on the Shanghai Futures Exchange closed at Yuan 3,613/mt Oct. 26, down Yuan 3/mt over the same period.