New rebar capacity coming up in Kuwait

Tuesday, 19 November 2019 16:08:28 (GMT+3)   |   Istanbul
       

Kuwait might soon have an additional steel rebar capacity as a new project seems to be nearing completion. According to market sources, the Kharafi Steel company is expected to launch 500,000 mt per year rebar production by the end of the current year or in early 2020. Initially, it was planned to start the operations in summer this year, SteelOrbis understands. The company has been already operating a 150,000 mt per year induction furnace melt shop, named Al-Oula Steel. Previously, the company was supplying some billet volumes to Saudi Arabia.

As a result, the Kuwaiti market which normally consumes around 100,000 mt of steel rebar per month might soon have another sizeable domestic supplier. Currently, the market is dominated by the sole rebar producer which operates a 1.4 million mt per year rolling capacity.


Most Recent Related Articles

Emirati suppliers struggle to raise rebar prices

Russian domestic rebar prices continue to surge

Billet market in Turkey starts to test higher price levels

Local GCC billet trade challenging due to advantageous exports, lower rebar price

UAE-based ESI announces $55/mt drop in rebar price