DGCX Steel futures saw a net change of $10 in the week ending July 6, closing at lower than during the previous week. The settlement price was $1,540 with a volume of 34 lots.
Meanwhile, price offers and contracts for rebar in the Middle East saw some upward trends. Thus, during the week in question, Turkish origin rebar has recently been booked to Dubai at the level of $1,550/mt CFR Dubai on theoretical weight basis for September/October shipment, showing a $20/mt increase.
Rebar prices have also shown an increase in the Saudi Arabian market. Offers for 12 mm rebar in the local Saudi Arabian market stood at the level of SAR 5,300/mt ($1,415/mt) delivered to customer, including five percent VAT, on a theoretical weight basis and with 30-60 day deferred payment. The price of rebar in the market saw a $40/mt rise on average.