30
Aug
14:26
Lack of rebar exports stifles GCC billet market
The Gulf Cooperation Council's local billet prices are under pressure from discounted ex-Iranian offers and a lack of rebar exports to the Far East or alternative markets.
No regional rebar exports to Hong Kong and Singapore have been reported for almost three weeks. Rebar buying appetite in both destinations has disappeared, and a working price of $535/t cfr theoretical weight, equivalent to $500/t fob, is not viable for GCC long producers, notes Kallanish.
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Anonymous
Very good overview of the weekly steel market.
Anonymous