UAE buyers accelerate purchases of Chinese rebar

Monday, 22 September 2014 13:36:11 (GMT+3)   |   Istanbul
       

According to market sources, last week a deal for about 5,200 mt of Chinese rebar was concluded in the UAE market at $510/mt CFR, on actual weight basis. The cargo in question has arrived in Jebel Ali port.
 
At the weekend, another ex-China deal for 10,000 mt of rebar was concluded in the UAE market at the price level of $490/mt, indicating a decrease of $20/mt compared to the previous transaction. The prices are on actual weight basis and for October shipments. 
 
As UAE buyers do not frequently conclude deals for large volumes of Chinese rebar due to quality and safety concerns, the increase in the UAE's imports from China has been received with surprise in the market. In the meantime, UAE buyers have started to ask for discounts from Turkish producers for new rebar deals due to the cheaper Chinese offers.

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