According to market sources, demand in the local Omani rebar market has showed little change during the past month and is still weak, while rebar prices in the market have increased by $10/mt to the range of $495-500/mt ex-works. On the other hand, traders stocks have declined and so they are expected to accelerate their purchasing activities in the short term.
Meanwhile, Chinese rebar offers to the Omani market have declined by $20-25/mt over the past month to $375-380/mt CFR. However, Omani buyers are only concluding deals for small tonnages from China because they are uncertain of the quality of Chinese rebar.