16
May
15:46
GCC rebar market weak, export prices soften
The Gulf Cooperation Council rebar market is exceptionally quiet, with end users working back-to-back in anticipation of more price drops and mills competing to bag orders from foreign markets, particularly Hong Kong and Singapore, Kallanish notes.
GCC mills are heard offering June-shipment rebar to the Hong Kong market at $790/tonne cfr actual weight, and to Singapore at $780/t cfr theoretical weight. However, no deals have been concluded and mills are heard…
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Anonymous
Very good overview of the weekly steel market.
Anonymous