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Asian rebar prices increased slightly Tuesday, as Chinese futures prices rose after the country announced winter air pollution control policies.

S&P Global Platts assessed 16-20 mm diameter BS500 rebar at $423/mt FOB China actual weight Tuesday, up $1/mt day on day.

In the Beijing retail market, spot 18-25 mm diameter HRB400 rebar was assessed at Yuan 3,775/mt ($539/mt) ex-stock actual weight, including 13% value added tax, up Yuan 20/mt from the day before. Beijing traders have low stock levels, and warehouse replenishment was not smooth, a local trader said.

The most actively-traded January 2020 rebar contract on the Shanghai Futures Exchange closed at Yuan 3,449/mt Tuesday, up Yuan 76/mt, or 2.3% day on day. Market analysts said that futures prices were mainly affected by macro-economic data and China's winter air pollution control policies.

Hong Kong market remained quiet expect the sole offer for Qatar rebar at $430/mt CFR actual weight of February shipment, unchanged day on day. That was equivalent to $424-$426/mt FOB China actual weight, assuming freight of $14/mt, after normalization of quality and quantity to Platts assessment standard.

Few buyers showed interest in new booking as local demand was depressed caused by ongoing societal unrest in the city. Local sales volume was estimated down about 20%, according to several local stockists.

In Singapore, an offer was heard at $430/mt CFR theoretical weight for Qatari cargo of February 2020 shipment, a local fabricator said. The prices were equivalent to $431-$433/mt FOB China actual weight, assuming freight of $20/mt and 3% weight tolerance after normalization of quantity and shipment period to Platts assessment standard. Another offer was heard at $438/mt CFR theoretical weight for Turkish cargo of January 2020 shipment, another local fabricator said.

Platts assessed 16-32 mm diameter BS4449 Grade 500 rebar at $429/mt CFR Southeast Asia Tuesday, unchanged day on day.

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