Dubai Gold and Commodities Exchange (DGCX) has announced that its list of approved producers for rebar futures contracts has expanded with the addition of one more rebar manufacturer: Turkish rebar producer Habas Demir Celik A.S.
As a result of this further addition, the number of producers approved by DGCX has now increased to nine. The list of previously-approved producers includes Izmir Demir Celik Sanayi A.S, Ekinciler Demir Celik A.S, Diler Demir Celik End ve Tic A.S, Al Tuwairqi Group, Sabic Steel, Qatar Steel, Kroman Celik Sanayi A.S and Emirates Iron and Steel Company.
Commenting on the newly-approved producer, DGCX chairman Mr. Ahmed Bin Sulayem said, "The listing of Habas complements our existing producer portfolio, bringing yet more confidence to the steel and financial community of the products traded, thus spurring liquidity. So far, investor response to the contract has been encouraging with volumes exceeding 1,000 mt each day during its second week of trading."