50th IREPAS meeting held in Dubai under sponsorship of SteelOrbis

50th IREPAS meeting held in Dubai under sponsorship of SteelOrbis

The 50th International Rebar Exporters and Producers Association (IREPAS) meeting was held in Dubai between the dates February 29 – March 1 2004, under the sponsorship of SteelOrbis. As a result of the discussions of the general market circumstances by the country representatives, the general outcome of the meetings could briefly be outlined as the market is expected to remain firm during the forthcoming couple of months. The consensus of opinion by the steel producers is that the demand is there yet supporting the prices. The short term expectancy is that the billet prices to be at $420-440/mt FOB levels while the price for rebars and wire rods to be at the $480-500/mt FOB range. All the same, it must be noted that rebar price of $480/mt FOB is already concluded. A further detailed analysis of the meeting will shortly be published on SteelOrbis pages.