Saudi Arabian mills’ rebar selling prices in the Kuwaiti retail market of KD 173-174/tonne ($564-567) delivered against LC at sight are weighing on that market, Kallanish notes.

After a long period of low shipments to Kuwait, deliveries from the Dammam-based Saudi steelmaker have picked up.

Local rebar in the retail market is at KD 176-178/t delivered against LC at sight, while mills’ sales prices to traders are at KD 173-175/t, with the low end of the range for quantities above 10,000 tonnes.

Meanwhile, Qatar's rebar supplier is said to be reluctant to supply to Kuwait as it has secured a direct reduced iron sales deal to Kuwait's benchmark mill. In order to avoid a conflict of interest, it is unwilling to continue supplying rebar to the trader which imported rebar at end-March. The same buyer used to bring in Omani rebar in 2024 when the Emirati benchmark mill stopped rebar shipments to Kuwait.