Malaysian mills have raised their rebar offers for a second
time in April as demand improves.
Mills are offering rebar at 2,300-2,400 ringgit ($749-782) per
tonne this week, up from 2,300-2,350 ringgit three weeks ago,
and from 2,250-2,280 ringgit per tonne five weeks ago.
"Sales are slowly improving as the government's mega-projects,
such as the mass rapid transit project, started moving
recently," a Singapore-based trader with operations in Malaysia
"Work has not started, but some contracts have been awarded,"
Mills also need to raise prices as billet and scrap prices
remain firm, a mill official in Malaysia said.
Billet bookings in Southeast Asia are at $645-655 per tonne cfr
this week, unchanged from two weeks ago.
Meanwhile, HMS 1&2 (80:20) scrap material changed hands at
$455-465 per tonne cfr Southeast Asia this week, unchanged for
the second week.