In
Kuwait rebar demand continues to remain weak, while local
rebar prices have softened further in line with downward trends seen in the international markets. Accordingly, in this week's Kuwaiti domestic
rebar market medium size
rebar offers have softened by KWD 2-3/mt ($7-11/mt) as compared to last week to the price range of KWD 215-217/mt ($780-787/mt) ex-warehouse, on theoretical weight basis. As SteelOrbis previously reported,
rebar prices in
Kuwait had softened by the same amount last week.
In the meantime, Turkish
rebar offers to
Kuwait have decreased by $10-15/mt this week, after last week's price decrease of $5-10/mt, declining to $665-670/mt CFR on theoretical weight basis. However, anticipating these offers have yet to reach the bottom, Kuwaiti buyers prefer to delay their bookings for the time being.
KWD 1 = $3.628