The Asian rebar market witnessed mixed trading on Aug. 30, with the Southeast Asia marker rising amid higher tradable levels while China domestic prices declined, tracking weakness in rebar futures.
The most actively traded October 2022 rebar contract on the Shanghai Futures Exchange closed at Yuan 3,875/mt ($562/mt) Aug. 30, down Yuan 90/mt on the day, extending the Yuan 132/mt decline seen on Aug. 29.
"Futures dropping probably affected buying sentiments," a Singapore trader source said.
In the Southeast Asia rebar market, 16-32 mm BS4449 Grade 500 rebar price was assessed at $600/mt CFR Southeast Asia, up $5/mt on the day, after a tradable indication was heard at that level from a buyer.
A Vietnamese rebar export mill increased the rebar official offer for September and October shipments at $640/mt FOB Vietnam actual weight, or $621/mt FOB Vietnam theoretical weight, said a local mill source.
Chinese export 16-20 mm diameter BS500B grade rebar was assessed at $590/mt FOB China, down $2/mt on Aug. 30. The domestic Beijing HRB400 18-25 mm rebar spot price was assessed at Yuan 4,082/mt ex-stock actual weight, including 13% value added tax, down Yuan 42/mt.