Southeast Asian rebar price remained unchanged despite new booking amid uncertain market conditions.

          In the Beijing retail market, 18-25 mm diameter HRB400 rebar was assessed at Yuan 4,785/mt ($734/mt) ex-stock actual weight on March 22, including 13% value added tax, up Yuan 70/mt on the day.

          The most actively traded rebar May 2021 contract on the Shanghai Futures Exchange closed at Yuan 4,763/mt ($731/mt) March 22, up Yuan 17/mt on the day.

          Chinese sellers in the export market were cautious as there was a market chatter that China is likely to change export rebate for steel products. China's major export rebar mills have not released their official offers but were negotiating order by order.

          S&P Global Platts assessed 16-20 mm diameter BS500 rebar at $676/mt FOB China actual weight, up $2/mt on the day.

          In Singapore, one ship of Turkish rebar was heard booked by a trader for May-to-June-shipment, said a market source.

          Offer level received by local buyers remained at $675/mt to $680/mt CFR theoretical weight for Turkish rebar for May-to-June-shipment, despite softening scrap prices amid quiet demand in Turkey that have pushed mills offer price down.

          “Rebar demand in Singapore was stable,” said a local rebar buyer.

-- Steel Business Briefing